The UK saw the highest losses at GBP 618 million, a 9% rise over 2015, topping the previous peak in card fraud, set in 2008 after the introduction of chip and PIN. In 2016 two countries saw higher rises — Poland (+10%) and Sweden (+18%). The UK’s rise from 2015 to 2016 was just half of that from 2014 to 2015.
France had the highest basis points at 8.9 (ratio of fraud losses to sales), compared to seven basis points for the UK. However, French card spending is half that in UK, making UK losses much greater. Together, the UK and France account for 73% of the total loses among the 19 countries in 2016, followed by Germany, Spain, Russia, Italy and Sweden.
Card not present (CNP) fraud has gone from 50% of gross fraud losses in 2008 to 70% in 2016. Ten countries saw an increase in fraud losses, while eight saw a decrease.
The European Fraud Map is based primarily on data from Euromonitor International, with supplementary data from the UK Cards Association.
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