Following a period of decline in fraud, mainly due to the migration to EMV, the company mentions that currently it is starting to increase and predicts that the increase will accelerate, if stronger security measures aren’t implemented. As ever, fraudsters actively seek out and exploit the weakest links in the system, and the evolving digital economy is creating new fraud threats and an increase in financial crime. Fraudsters have shifted from exploiting face-to-face to card-not-present transactions.
According to data from the ECB, 60% of the total value of card fraud in Europe came from card-not-present payments. Countries most affected by fraud are those with mature card markets with high ecommerce volumes such as France and the UK.
Worldline, an Atos subsidiary, is a European and global player in the payments and transactional services industry. Worldline activities are organized around three axes: merchant services, mobility and e-transactional services, financial processing services.
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