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Payment Card Fraud in North America
Datamonitor, Aug 2004, Pages: 102
Payment card fraud is a problem that will not go away. Fraudsters are becoming more sophisticated creating key challenges for all parties in fraud prevention.
How significant is the problem of card fraud in North America? And what is being done to tackle the problem? Payment Card Fraud in North America 2004 answers these questions and more.
It is the definitive guide to card fraud in the region.
Scope of Report:
Covers payment card fraud in the two major markets in North America - the US and Canada
Includes data on fraud losses for the period 1999-2003 and examination of key fraud trends such as growth of counterfeit fraud
Examines fraud preventative measures such as online security initiatives and EMV with specific details on applicability and success in North America
Examines what payments stakeholders can do to prevent fraud from worsening in the future
Highlights of Report:
The lack of movement towards EMV compliance in the US is a major concern, not only for the domestic industry but for the global card payment market as well. To this end, European bankers are already discussing the case for issuing magstripe cards specifically for travellers to the US and providing chip-only cards for use within the domestic markets.
The major driver behind the EMV migration in Canada is the growing problem of counterfeit fraud. However, the ultimate usefulness of smart cards is still a contested issue. There is a view that the expense involved in rolling-our these cards would outweigh potential benefits and the ultimate security of such cards is far from guaranteed.
Payment authentication solutions such as 3-D Secure have an immense potential to reduce card-not-present fraud. However, in order to fulfill this potential, their wider acceptance is essential. At the moment, card schemes are pursuing the strategy of increasing retailer participation and cardholder usage in order to achieve this goal.
Reasons to Purchase Report:
Quantify payment card fraud in the North American region and compare fraud rates in individual markets
Identify key fraud trends likely to affect your business in the years ahead and how to respond to them
Learn from payment stakeholders whose response to card fraud has been particularly proactive
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US online credit card fraud in dollars for 1998 forecast to 2007, with online fraud as a percentage of total credit card fraud for each year
UK payment card fraud losses in pounds sterling for 1999 and 2000, with fraud breakdown each of six sources and losses as a percentage of total payment card volume
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