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PCM_Alaric_Card_Fraud_Report coverCertainly card fraud is one of the most fascinating aspects of the payment industry, not least because it is relentless and mutating. While overall, this comparison between card fraud losses and types in the French, British, Dutch, Canadian and the USA markets suggests that card fraud losses are being contained as a proportion of card turnover, there is no room for complacency.

EMV implementation and 3D-Secure, combined with strong authentication, have done much to reduce domestic losses from lost and stolen cards in Europe. However, losses from card fraud on the internet and cross-border fraud on domestic cards have grown significantly. In total, card fraud amounted to €1.33 billion in the European SEPA region in 2012. The global card fraud challenges are CNP (Card Not Present) fraud, cross-border fraud and counterfeit on non- EMV cards.

Also the individual figures of France, the UK, the Netherlands, Canada and the USA in this report indicate that the war against fraud continues to be a global threat. International card fraud continues to be smaller in scale than domestic card abuse, but is proportionately far more common – e.g. 15 times higher than domestic fraud in France. And of course fraudulent cross-border transactions on cards continued to grow on all purchase channels.

This report aims to give some insight into how card fraud is perpetrated in the selected regions, what are the drivers for this fraud, the defence mechanisms that the various countries can select to combat card fraud and the figures that surround the various types of card fraud.


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