Europe: a new peak in card fraud losses - report

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.

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