European Card Fraud - Czech Republic
Explore card fraud loss trends across Europe with our interactive map, charts and analysis from FICO fraud experts
Card-Not-Present Fraud Is the Leading Concern
The Czech Republic is showing marginal increases in fraud (up from 136.1M CZK to 138.7M CZK). The increase is in line with expected fraud loss increase across the globe, and it’s encouraging to see that the Czech Republic’s basis points have remained steady, meaning that losses relative to overall card spending is stable.
Card-not-present fraud remains the dominant fraud type and it is clearly on the increase, up 2.73% to 97.7M CZK. This accounts for 70% of all of the Czech Republic’s losses. While counterfeit card losses decrease, and other fraud types remain very low against the overall loss value, Czech issuers should focus on card-not-present attack vectors to gain control over those losses.
Improvements to fraud prevention controls have seen counterfeit card fraud decrease across Europe, which is reflected in the Czech Republic’s data. However, the Czech Republic is still seeing social engineering tactics that trick consumers into divulging authentication codes and allowing fraudsters unchecked access via e-wallets and tokens.