ROMANIA Increase in Fraud YoY

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A Continued Challenge of Increasing Losses

Our local partners in Romania (and other central European/Baltic states) have been quick to react to their escalating threat. However, they have required a more in-depth transformation after realising that legacy systems and infrastructure were not capable of managing the threat posed by this continued Card Not Present (CNP) migration.

FICO has been working hard with our partners in the region to ensure that the path to resolve these issues has been realised and the control frameworks hardened. Our partners are now beginning to enjoy the prevention benefits of FICO® Falcon® Platform and are turning the tide, with a prediction that as of next year, more banks here will enter the global group of those that have achieved enterprise fraud management.

Best-in-class players are now emerging within the market and forcing in-region migrations of CNP threat, as criminals move from stronger to weaker banks. This needs to prompt the wider industry to follow suit and similarly harden their own frameworks in order to achieve true success at the country level.