U.N. officials have warned that an “urgent” rise in U.K. interest rates and Brexit are fueling a sharp increase in fraudulent activity on the U.A.E. U.C.I.D. warned last month that credit card fraud rates had risen to their highest level since 2013.
The U.R.S.-led Group of Seven nations announced Wednesday that it will announce new measures to combat credit card theft and fraud on Friday, but did not name specific countries or regions.
UbiPay has launched a nationwide survey, which it hopes will allow it to quickly identify and combat fraudulent activity.
UBIPay, which has launched the UBI card in over 30 countries, has already flagged around 1.7 million frauds.
UBiPay is also looking to raise $1 billion to help combat the growing problem.
The company said it was looking to increase the number of cardholders who will be eligible for the new UBI payment to at least 1 million people, a figure that could rise to 2 million.
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