Despite the adoption of fraud analytics solutions by financial institutions and merchants, along with EMV being implemented in most countries including the U.S., card fraud rates are increasing in many parts of the world.
The 2016 Global Consumer Fraud Report from the Naples, Fla.-based ACI Worldwide and Boston-based Aite Group revealed that 30% of consumers globally experienced card fraud in the past five years, according to data gathered from more than 6,000 consumers across 20 countries.
Compared to ACI's 2014 benchmark study, card fraud rates and unauthorized activity on three types of payment cards (debit, credit and prepaid) is on the rise.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
