Proven data show that as a nation implements chip cards systems, criminals shift their attention to fraudulent online purchases instead, where they’re finding it much easier going.
As the United Kingdom implemented its EMV card (chip card) system in 2004, point-of-sale payment fraud declined from 15 percent to less than 5 percent. But online purchase fraud rose from 30 percent to more than 60 percent. Unfortunately, it appears the U.S. hasn’t learned a lesson from that precedent and is about…
Proven data show that as a nation implements chip cards systems, criminals shift their attention to fraudulent online purchases instead, where they’re finding it much easier going.
As the United Kingdom implemented its EMV card (chip card) system in 2004, point-of-sale payment fraud declined from 15 percent to less than 5 percent. But online purchase fraud rose from 30 percent to more than 60 percent. Unfortunately, it appears the U.S. hasn’t learned a lesson from that precedent and is about…