Home Posts tagged "counterfeit card fraud"
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Both Card Present and Card Not Present Fraud Grew in 2016

According to estimates from Javelin Strategy and Research, there was an 8 percent increase in U.S. consumers impacted by payment card fraud at the point-of-sale in 2016, while those victimized by card not present fraud grew at a much larger rate. Although the industry was bracing for an increase in CNP fraud with the rollout

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Visa and American Express Temporarily Ease EMV Chargeback Liability for Merchants

Announcements from three of the major card associations in June describe different approaches for reducing merchant liability and losses with counterfeit card fraud through April 2018 as the U.S. transitions to EMV. Visa estimates their changes will lead to 40 percent fewer chargebacks and 15 percent fewer dollars being charged back to merchants related to

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More secure credit cards make fraudsters rush to eCommerce

October 2015 is the deadline for switching credit cards and readers to EMV/Chip & PIN technology in the US. At this point fraud liability switches to the party with the lesser technology, which will have substantial impact on unprepared merchants. The eCommerce channel must also get ready as stopping fraud at physical retail stores will

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Website sells tens of thousands of counterfeit credit cards

International website sold almost 70,000 counterfeit credit cards along with state IDs. The FBI and US Postal Inspection Service recently assumed control of fakeplastic.net, a massive and well organized online operation selling counterfeit credit cards, holographic stickers and state ID cards complete with holographic overlays. The organization sold 70,000 counterfeit cards and associated are estimated

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FICO Data Shows Fraud Against U.S. Issued Credit Cards Continues to Increase, Led by CNP Fraud

A recent report from FICO found that the incidence rate of credit card fraud on U.S. issued cards increased by 17 percent over a nearly two-year period while card not present fraud grew at the fastest rate. Read More

 
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France, Russia and UK Lead Increase of Card Fraud in Europe

According to data from FICO and Euromonitor International, card fraud losses increased 6 percent in 2012 from 2011 while 80 percent of this increase came from Russia, France and the United Kingdom. Read More

 
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Nearly Half of all Global Card Fraud Losses Occur in the United States

According to The Nilson Report, global card fraud losses surpassed $11 billion in 2012 while the U.S. accounted for nearly half of the card fraud loss volume. Read More

 
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U.S. and Canadian Authorities Arrest Members of Identity Theft and Card Fraud Rings

Canada’s Regional Fraud Bureau along with Canadian police departments and the U.S. Secret Service carried out a raid on suspected identity fraud rings which resulted in five arrests, over 300 fraud-related charges as well as the confiscation of equipment used for making counterfeit cards and hundreds of thousands of dollars in counterfeit U.S. currency. Read

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Romanian Fraudster Arrested for ATM Skimming Scam

Laurentiu Bulat, a Romanian citizen living illegally in the United States, was arrested on January 5 on multiple charges after taking part in $1.5 million skimming and counterfeit card operation that targeted at least 40 HSBC ATMs in New York. Read More

 
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