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Regional Fraud Hits New High’

FICO Total Fraud Levels Fraud Threat Levels Regional Shifts EVOLUTION OF CARD FRAUD IN EUROPE 2013 Regional Fraud Hits New High Working closely with lenders across Europe, FICO has seen big changes in the fraud landscape between 2006 and 2013 – both in terms of volume and type of attack. This dynamic map illustrates some of the key trends and issues that have played a role in shaping the fraud threats that the industry faces today, at both a regional and national level. in Circle indicates % increase / decrease from 2012 Click on circle to see country data • Overall card fraud increase • Overall card fraud decrease Glossary © 2014 Fair Isaac Corporation. All rights reserved. Data provided by Euromonitor International Join the conversation at FICO Banking Analytics Blog Creative design by Catalysis Google Terms of Use

Regional Fraud Hits New High’

shared by CatalysisComms on Aug 05

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“Money lost to card fraud reached €1.55 billion in 2013 across the 19 European countries FICO showcases in this interactive infographic. This was a new high, and slightly more than the previous p... eak in 2008, according to data supplied by Euromonitor International, a provider of global strategic market intelligence. UK card fraud losses rose by 16 percent between 2012 and 2013, hitting £450 million, the highest level since 2008. While the UK had the highest losses, both France and Greece had higher ratios of fraud losses to card sales, at 7 basis points (.07 percent). Nor did the UK experience the fastest growth of card fraud losses in Europe — that dubious honor goes to Russia, where losses jumped nearly 28 percent since 2012. “When fraud losses peaked in 2008, UK issuers sharply reduced card fraud through chip and PIN and fraud analytics,” said Martin Warwick, a principal fraud consultant at FICO in EMEA, who provided the commentary for the map. “However, tougher fraud detection policies and thresholds also block more genuine transactions, and now the focus for UK banks and regulators is very much on improving the customer experience. To counteract the resulting increase in fraud, we’re beginning to see issuers look to such technologies as interactive, automated customer communication services that contact customers in real time when a transaction triggers a fraud alert. This technology helps balance the need to protect customers from fraud with the need to provide a positive purchase experience.” The UK and France suffered most, with 62% of the total fraud losses for the 19 countries in the fraud map. Ten of the countries saw a rise in fraud compared to 2012, while nine stayed the same or saw reduced losses.”

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FICO

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Catalysis

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Catalysis