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Digital Identity, Security & Online Fraud

Card present fraud at all-time high in November

Friday 31 October 2014 | 12:56 PM CET

The card present fraud spikes in November, with Black Friday being the top date for fraud in 2013, a recent research shows.

According to a report conducted by Feedzai, in 2013, the 10 days with the most CNP fraud occurred in November. More than three times more CNP fraud occurs in November than in June (the month with the least CNP fraud). None of the top CNP fraud days in November were on Black Friday because they were busy with CP fraud.

Findings also reveal that the average CNP fraudster spends about USD 900 per card in five days, while CP fraudsters take seven days to spend an average of USD 450. The most CNP fraud occurs between 12-1 pm, while CP fraud is more likely to occur between 4-5 pm.

In matter of days, the highest rate of overall fraud occurs on Monday, and Sunday is the day that the fewest fraudulent transactions occur. The most CP fraud occurs on Saturday, 42% higher than on Sunday, and the most CNP fraud occurs on Monday, 92% higher than on Sunday.

The study indicates that grocery stores/supermarkets (25%) and home supply warehouse stores (8%) are top targets for CP fraud. Top merchant categories for CNP fraud include electronics stores (11%), discount stores (10.2%) and computers, peripherals and software (7.8%).

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