- This VRL report contrasts moves being taken to defraud corporates and individuals using cards and the action being taken to counter the fraud
- It details types of fraud practised in the market
- It looks at some country based examples of how technology is being used to fight fraud
- It examines what collective moves are being taken by industry leaders, stakeholders and associations to fight fraud
The latest available statistics in 2010 show that globally, card payment fraud recorded extremely high rates of occurrence. Despite the many efforts to reduce and eliminate fraud through building an improved understanding of fraud threats, sharing data on prevention and mitigation benefits, and increasing public awareness with regards to fraudulent card payments, fraud continues to impact the financial industry and global economy. Since consumers are becoming more dependent on card payments, industry leaders, stakeholders and various organisations comprising the card payment industry must develop and implement various strategies to combat fraud. Organisations are working to prevent and mitigate the risk of card payment fraud, as well as reducing its effects by employing the latest technologies and innovations in card payment systems and software, including technologies in fraud detection.
In this report, current statistics on card payment fraud are presented in key countries and regions, including Europe, Asia-Pacific, the US and the UK. These countries and regions have varying rates of card payment fraud and are implementing various strategies and technologies to reduce and eliminate fraud. This report specifically discusses the strategies and practices implemented by leading banks, financial institutions and organisations in order to reduce the impact of card payment fraud. The thoughts and opinions of industry leaders have also been gathered and included in this report to provide an overview of the current situation with regards to card payment fraud. Key points on how banks and financial institutions cope with high rates of card payment fraud are also discussed here. Similarly, the effects of fraud on consumers and how they adapt to it are credited. The report provides an overview of the ways in which awareness is being increased with regards to card payment fraud across all members of the payments industry and cross-border collaborations which aim to share fraud prevention and mitigation measures.
- This report shows how and why the cards and payments industry must ensure that the correct checks and balances are in place to face new and inventive attempts to defraud
- The content provides an overview of the ways in which fraud awareness is being raised across the payments industry
- It includes advice on detecting fraud, mitigating risks and preventing losses
- Global examples and statistics are provided
Reasons To Buy
- View current statistics on card payment fraud from a variety of key countries and regions, including Europe, Asia-Pacific, the US and UK
- Study the measures introduced by banks and financial institutions to combat fraud
- Stay ahead of the curve with advice on detecting, mitigating and eliminating fraud
- Consider the global challenges in relation to card payment fraud