Europe Returns to Winning Ways in Fight Against Fraud
Without the large-scale data compromise events that marked 2018, the countries in this report had lower fraud losses than in 2018. The United Kingdom led the way overall, posting an astonishing 8% reduction in card fraud losses, or £52 million less than 2018.
At the other end of the scale, worrying increases have been reported across many countries but most notably France and Italy, which together were responsible for 71% of the monetary loss increases in Europe.
This report focuses on card fraud, but that is only part of the story. Retail frauds and scams continue to be the joint primary driver of loss positions in all regions. This continues to drive banks towards enterprise fraud management strategies.
Increase in Fraud YoY
Decrease in Fraud YoY
No Change in Fraud YoY
Data provided by Euromonitor International
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5 Keys to Successfully Applying Machine Learning and AI in Enterprise Fraud Detection
Like many aspects of our lives, technology is providing consumers with more options when it
making financial transactions. From relatively new interactions, such as mobile commerce and
peer payment apps, to near real-time payment windows, the changes are rapid and expansive.
want immediate payment processing whenever and however they choose to transact. They want a
relationship that’s 100% convenient and 100% secure, and modern financial institutions are
their best to accommodate these market demands. But there are gaps.