Although only 2% of all transactions were acquired outside SEPA, they accounted for 14% of fraud. Cross-border transactions within SEPA represented 9% of all card transactions in terms of value, but 51% of reported fraud. From a geographical perspective, domestic transactions accounted for 89% of the value of all card transactions in 2019, but only 35% of fraudulent transactions. ![]() More than half of the total value of fraud in 2019 was related to cross-border transactions within SEPA. However, the fraud share for delayed debit and credit cards declined notably compared with previous years (from around 0.11% in 20 to 0.088% in 2019). When distinguishing card payments by card function, the fraud share of delayed debit and credit cards in 2019 (0.088%) continued to be considerably larger than the share for debit card transactions (0.016%), the former being more frequently used for online payments and cross-border transactions. ĭelayed debit and credit card transactions appear more affected by fraud than debit card payments. The latter was driven by a notable decline in counterfeit card fraud at ATMs involving transactions acquired outside SEPA, as the increased global adoption of EMV chip technology further reduced opportunities for committing magnetic stripe counterfeit fraud. With respect to card-present transactions, fraud committed at POS terminals went up by 2.2% in 2019, while fraud committed at ATMs decreased by 6.1%. Partially available data on total CNP transactions suggest that fraud grew at a considerably slower rate than overall CNP transactions in 2019. CNP fraud accounted for €1.50 billion in fraud losses in 2019, up by 4.3% on the previous year. In contrast, fraudulent transactions at physical point-of-sale (POS) terminals such as face-to-face payments at retailers or restaurants and at automated teller machines (ATMs) only accounted for 15% and 5% of the total value of card fraud in 2019 respectively. payments via the internet, mail or phone. In 2019 80% of the value of card fraud resulted from CNP transactions, i.e. ![]() The vast majority of fraudulent transactions continue to be related to card-not-present (CNP) fraud. For cards issued in the euro area, the value of fraud as a share of total card transactions in 2019 remained below the share for SEPA as whole at 0.032%, albeit up slightly from 0.031% in 2018. A share of 0.036% means that on average 3.6 cent were lost to fraud for each €100-worth of transactions using cards issued within SEPA in 2019. Over the five-year period between 20, the lowest fraud share was observed in 2017 (0.035%), which was the lowest figure recorded since the start of data collection in 2007. Consequently, fraud as a share of the total value of transactions decreased by 0.001 percentage points to 0.036% in 2019. The total value of overall card transactions using cards issued within SEPA and acquired worldwide increased by 6.5% compared with 2018, whereas corresponding fraud grew by 3.4%. For cards issued in the euro area only, the total value of fraudulent card transactions amounted to €1.03 billion.įraud as a share of the total value of transactions decreased in 2019, as fraud in absolute terms increased at a slower pace than overall card payments. The total value of fraudulent transactions using cards issued within SEPA and acquired worldwide amounted to €1.87 billion in 2019. Card fraud consists of (i) fraudulent transactions with physical cards (card-present fraud), such as cash withdrawals with counterfeit or stolen cards and (ii) fraudulent transactions conducted remotely (card-not-present fraud), for example where criminals conduct online payments with card details obtained through phishing or data breaches. Card payment schemes active in the euro area report data broken down by Single Euro Payments Area (SEPA) country, covering almost the entire card market. ![]() The analysis focuses on data for 2019, which are put into the context of a five-year period from 2015 to 2019. This report analyses trends in card fraud in 2019 as reported by card payment schemes active in the euro area.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |