Credit card: 340 million fraud in 2009
Posted by adminThe bank fraud rebounding. The fraud rate for all types of payment cards has reached 0.072% in 2009, amounting to 342.4 million euros, according to the annual report of the Observatory for Payment Card Security released Tuesday. In 2008, the rate was 0.069%, corresponding to an amount of 320.2 million euros. The fraud has overtaken its 2004 level (0.070%), after having stabilized between 2005 (0.064%) and 2007 (0.062%).
This increase masks "divergent trends," says the report by the Centre, presented by Christian Noyer, governor of the Bank of France. On the one hand, fraud on national payments made to retail outlets and automata remains on a downward slope. It reached a low in 2009, ie a rate of 0.014% for a $ 41 million.
Conversely, fraud is still gaining ground on front of remote payments (internet, telephone or mail). For domestic payments, the amount of fraudulent transactions has risen from 67.2 million euros in 2008 to 82.2 million euros in 2009. An increase that does not include payments made from abroad. If the amount of fraud registered for French maps in international traders remained high (60.5 million euros) last year, he registered a slight decline.
At a time when networks compete in international fraud imagination, the Observatory for Payment Card Security said in its report that "the majority of the holders consider the card as a secure means of payment.The organization, which advocates the establishment of strong authentication solutions to verify, whenever possible and appropriate, the payment is made by the legitimate holder of the card, "has conducted a qualitatlive investigation to determine the acceptance of such devices by consumers.
Online payments still inspire confidence
And the verdict of the study is final, according to the Observatory. While "significant concerns remain regarding online payments, particularly on foreign sites, users of payment cards of all types" show a clear preference for strong authentication solutions. " These include for example the use of a single use code obtained by various means (card reader, sending an SMS from the bank, etc.).
These findings appear to be timely.The construction of strong authentication is indeed well advanced. "The implementation by banks of these solutions with their carriers is now being phased in accordance with the recommendations of the Bank of France," says Monitor's report.
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