Results show that UK experienced GBP 450 million in losses, the highest level since 2008 and both France and Greece had higher ratios of fraud losses to card sales, at 7 basis points (.07%). The fastest growth of card fraud losses in Europe occurred in Russia, where losses jumped nearly 28% since 2012.
The UK and France suffered 62% of the total fraud losses for the 19 countries in the fraud map, reflecting their higher rates of card usage, which make them targets for criminals. 10 of the countries saw a rise in fraud compared to 2012, while 9 stayed the same or saw reduced losses.
FICO’s European Fraud Map shows card fraud losses from 2006-2013 for 19 countries across 5 categories, including counterfeit fraud, card stolen and ID theft.
Country-specific information shows how fraud has evolved, and indicates new risks in such areas as ID theft, counterfeit cards and online fraud. Regional trends include the increase in Card-Not-Present (CNP) fraud online.
FICO fraud solutions help banks manage their enterprise-wide fraud challenges. FICO Falcon Fraud Manager is a card fraud management solution, and protects more than 2.5 billion payment cards worldwide.
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