With the introduction of EMV technology, point-of-sale fraud in the US is expected to fall to $1.77 billion by 2018, a 51% decrease. CNP fraud will jump 106%, from $3.3 billion to $6.4 billion. Sources: Chip and Quill: How EMV Will Increase Card Fraud in the US, BankTech, November 18, 2014; EMV: Lessons Learned and the US Outlook, Aite Group, June 2014; Card-Not-Present Fraud in a Post-EMV Environment: Combating the Fraud Spike, Aite Group, June 2014; Security Matters: A Hole in the Balloon Analogy—The Complex Evolution of Card Fraud in the US, mastercard.newsroom.com, June 2, 2015. 4177IN PDF 12/15 © 2015 Fair Isaac Corporation. All rights reserved. -51% In the US, fraudulent e-commerce transactions are expected to nearly double from $10 billion in 2014 to almost $19 billion in 2018, making CNP the top card fraud type. In the UK, point-of-sale card fraud fell by 58% after EMV was introduced in 2005, but CNP fraud grew by 79%, peaking in 2008. Five years after migrating to EMV in 2008, Canada’s card-present fraud fell 54%, but CNP fraud spiked 133% during the same period. +106% +79% +133% $19B What Is EMV? It’s a proven layer of security. Cardholder data is most susceptible to theft at card-present point-of-sale purchases. EMV encrypts all data at the point of sale, rendering it useless to cyberthieves. As the United States migrates to chip-enhanced EMV payment cards, beware — fraud knows no boundaries. Historic data shows that while card-present point-of-sale fraud decreases significantly in regions that adopt EMV, card-not-present (CNP) fraud surges. CNP fraud set to spike in the US with EMV adoption No Business Is Immune Get FICO’s market-proven enterprise solutions to protect your customers from all financial fraud, including CNP fraud at www.fico.com/enterprisefraud

FICO® Fraud Follows Opportunity

Download PDF Report

Upload
fico
View
117
Download
7

Embed Size (px)

Citation preview

With the introduction of EMV technology, point-of-sale fraudin the US is expected to fall to $1.77billion by 2018, a 51% decrease.

CNP fraud will jump106%, from $3.3 billionto $6.4 billion.

Sources:

Chip and Quill: How EMV Will Increase Card Fraud in the US, BankTech, November 18, 2014; EMV: Lessons Learned and the US Outlook, Aite Group, June 2014; Card-Not-Present Fraud in a Post-EMV Environment: Combating the Fraud Spike, Aite Group, June 2014; Security Matters: A Hole in the Balloon Analogy—The Complex Evolution of Card Fraud in the US, mastercard.newsroom.com, June 2, 2015.

-51%

In the US, fraudulent e-commercetransactions are expected to nearlydouble from $10 billion in 2014to almost $19 billion in 2018,making CNP the top card fraud type.

In the UK, point-of-sale cardfraud fell by 58% after EMV wasintroduced in 2005, but CNP fraudgrew by 79%, peaking in 2008.

Five years after migratingto EMV in 2008, Canada’scard-present fraud fell 54%,but CNP fraud spiked 133%during the same period.

+106% +79%

+133%

$19B

What Is EMV? It’s a proven layer of security.Cardholder data is most susceptible to theft at card-present point-of-sale purchases. EMV encrypts all data at the point of sale, rendering it useless to cyberthieves.

As the United States migrates to chip-enhanced EMV payment cards, beware — fraud knows no boundaries. Historic data shows that while card-present point-of-sale fraud decreases significantly in regions that adopt EMV, card-not-present (CNP) fraud surges.

CNP fraud set to spike in the US with EMV adoption

No Business Is ImmuneGet FICO’s market-proven enterprise solutions to protect your customers from all financial fraud, including CNP fraud at www.fico.com/enterprisefraud