CZECH REPUBLIC No Change in Fraud YoY
Advancements in Technology Could Combat Steady CNP Growth
In 2021, the level of fraud threat in the Czech Republic increased by almost 200%, with fraud basis points rising from 0.45 to 1.34. The Czech Republic have done well to keep total losses at a plateau, but it is apparent that CNP losses are growing: in 2020, CNP fraud accounted for 67% of all losses, and this has risen to 69% in 2021. Whilst counterfeit fraud continues to be the secondary concern, losses have been steadily declining by about 1M CZK per year since 2016.
FICO were excited to welcome a number of new financial institutions in Eastern Europe to the Falcon Intelligence Network in 2021, and look forward to seeing how greater fraud intelligence and insight will help banks improve results.