Lockstep

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CNP fraud keeps growing without limit

The Australian Payments Clearing Association (APCA) releases card fraud statistics every six months for the preceding 12m period. Lockstep monitors these figures, condenses them and plots the trend data.

Here's the latest picture of card fraud in three major categories over the past five calendar years.

CNP trends pic to CY 2010 (2)

It appears that EMV chip cards continue to stifle skimming and counterfeiting, but Card Not Present (CNP) fraud is left as the preferred MO of organised crime, and continues to grow unabated.

It's high time that banks and online merchants took definitive steps to prevent the replay of stolen card numbers. See Lockstep Technologies' Stepwise.

Posted in Payments, Fraud, Security

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