Card-present fraud committed at POS terminals went up by 3.6% in 2018 compared with 2017, while fraud committed at ATMs decreased by 14.7%. CNP fraud accounted for €1.43 billion in fraud losses in 2018 (an increase of 17.7% compared with 2017). In respect of the composition of card fraud in 2018, 79% of the value of card fraud resulted from card-not-present (CNP) payments (i.e. payments via the internet, mail or phone), 15% from transactions at point-of-sale (POS) terminals, such as face-to-face payments at retailers or restaurants, and 6% from transactions at automated teller machines (ATMs). The overall level of fraud in card payments shows the importance of continuous fraud monitoring and vigilance by card scheme overseers as well as security measures. The upward trend in card fraud observed between 20 reversed until 2017 but increased again in 2018. Over the five-year period, the highest fraud share with SEPA cards was recorded in 2015 (0.042%) while the lowest was recorded in 2017 (0.035%). A 0.037% share means that an average of 3.7 cents was lost to fraud for each €100 worth of transactions using SEPA cards in 2018. When it comes to cards issued in the euro area only, the total value of fraudulent card transactions acquired worldwide amounted to €0.94 billion in 2018.Īs a share of the total value of card transactions, fraud increased by 0.002 percentage points to 0.037% in 2018 compared with 2017 for SEPA and by 0.002 percentage points to 0.031% for the euro area. The total value of fraudulent transactions using cards issued within SEPA and acquired worldwide amounted to €1.80 billion in 2018. Card fraud is composed of (i) fraudulent transactions with physical cards (card-present fraud), such as cash withdrawals with counterfeit or stolen cards, and (ii) fraudulent transactions conducted remotely (card-not-present fraud), such as those with card details obtained by criminals through phishing and used for online payments. The reporting card payment scheme operators are required to report card fraud as defined within their own rules and procedures. The report covers almost the entire card market. It is based on data reported by the card payment schemes in the euro area with a breakdown per Single Euro Payments Area (SEPA) country. This sixth oversight report on card fraud analyses developments in card payment fraud with a particular focus on the 2018 data, which is put into the context of a five-year period from 2014 to 2018.
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