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European cross-border and card-not-present fraud on the rise
Card fraud losses across 19 countries in Europe rose an average of 6% in 2014, according to a new report based on data from Euromonitor International. But the low overall rise masks large shifts in so-called “cross-border” fraud, where criminals use data on cards from one country to commit fraudulent transactions in another country. UK card [...]
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25% jump in cross border fraud on UK debit cards
The percentage of fraudulent transactions occurring outside the UK in 2014 on UK debit cards rose 25% in a massive sample of cards studied by analytic software firm FICO. Cross border fraud transactions accounted for nearly a third (31%) of all fraudulent transactions on 52 million active UK debit cards studied, up from 23% in 2013. [...]
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