Understand the current and emerging fraud trends and risks all financial institutions and issuers must know, and learn actionable steps that can amplify current fraud prevention efforts by using a lifecycle management approach. Download the Javelin/FIS fraud trends white paper: From Application to Transaction: Card Fraud Trends, Threats and Tactics.
Over the past several years, there’s been an evolution in card fraud. With the advent of the EMV chip card standard, criminals are changing their digital habits, adapting to consumer trends and moving on from the point of sale (POS). As a result, card-not-present (CNP) fraud has accelerated and shows no signs of slowing down. Meanwhile, fraudsters are increasingly leaning into application fraud and with great success. The number of victims of new card account fraud is sharply rising — with crooks increasing their focus on private label credit and debit cards to find new profits.
The onus is now on financial institutions and issuers to simultaneously build higher walls, increase customer engagement, and better utilize digital technology to navigate the ever-shifting sands of payment card fraud.
In this new fraud trends white paper, FIS and Javelin examine how payment card fraud is manifesting at the application stage, during transactions, and then identifying opportunities for financial institutions and other card issuers to preserve relationships with their customers by preventing, detecting and resolving fraud.