US comprises bulk of global card fraud losses

New figures from payment industry researchers The Nilson Report show that the US accounted for 48.2% or $7.86 billion of gross losses worldwide on plastic cards in 2014. These figures comprise 21.4% or $6.187 trillion of total volume.

US card fraud comprises the bulk of global losses

Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $16.31 billion in 2014, from total global card volume of $28.844 trillion, representing fraud of $0.0565 in every $100 in volume.

Although the US is progessing in its adoption of EMV infrastructure, fraud losses equaled $0.1275 for every $100 in total volume in 2014. Fraud in all other regions combined was only $0.0373 per $100.

Of the total $16.31 billion lost to fraud in 2014, card issuers worldwide absorbed 62%. Merchants accounted for the other 38%. In the US, card issuers lost $4.91 billion and merchants lost $2.95 billion before other costs are factored in.

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