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Card Fraud is the driver of major industry initiatives such as EMV implementation to combat the use of lost, stolen and counterfeit cards, while 3D-Secure authentication protects against the fraudulent use of stolen card details online.
Card fraud report 2015
But what is the scale of card fraud losses in selected European countries, Canada and the USA and how does it vary between markets?
In 2008, PCM prepared a report comparing card fraud losses in France, Spain and the UK. It drew on data covering the whole market for France, Spain and the UK. In 2009, the Netherlands was included because of its specific, domestic, best practices in Europe.
In 2015, the new report updates and extends the initial analysis. Data from the ECB Fraud Report provides a pan-European barometer. In addition to France, the Netherlands and the UK, national coverage has been extended to include Canada and the USA. Compared to the European experience, it is notable to understand the impact of card fraud in two major countries, where the EMV migration is not yet complete (Canada) and has just started (USA).
The report is divided into the following main sections:
1. Examines the overall level of losses, including the variations between the countries profiled.
2. Draws on French, UK, Canadian and USA data to analyse losses by method of compromise that are the sources of fraudulently used cards.
3. Analyses losses by geographic place of misuse (domestic vs. international).
4. Analyses losses by type of fraudulent transaction (purchases vs. cash withdrawals, face-to-face vs. CNP purchases).
5. Draws on the French data to bring together the analysis of losses by method of compromise with the analysis by place and type of misuse.
6. Highlights notable card fraud trends.
7. Concluding comments.
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