FRANCE Increase in Fraud YoY
Card Not Present Drives the Largest Increase in Europe
In perhaps one of the clearest examples of Card Not Present (CNP) migration, France has seen another sustained increase at a country level. When currencies are normalised, France has seen the largest increase in fraud in Europe.
This is further proven by the continued increases in performance and strengthening of preventions in the United Kingdom and the Nordics, which are beginning to leave many of the Western European nations in their wake.
The formula for containing and reducing the CNP threat is well-proven. However, France has been incredibly slow to adopt these approaches and so is unable to enjoy the success that is being seen across Europe. France is relatively isolated from the rest of Europe in terms of its approach to fraud and adopting proven enterprise fraud techniques and machine learning approaches.
France is fast becoming the most lucrative region for CNP fraud in Europe. As the United Kingdom continues to achieve sustained reductions, France will overtake it in basis point losses.