The Clearsale Blog

CNP Fraud Attempts up 30% in 2015, EMV to Blame?

CNP Fraud Attempts up 30% in 2015, EMV to Blame?

The volume of fraud attempts rose 30 percent from 2014 to 2015, lending support to concerns that the transition to EMV in the U.S. will shift fraud for retailers from in-store counterfeit fraud to card-not-present fraud, according to a new analysis from ACI Worldwide. The Naples, Fla.-based payments processor said fraudsters did not wait for the October 1, 2015 liability shift to begin their transition. The company looked at transactions data from their retailers and found that, for the January-to-July time period, fraud attempts rose from 1 out of every 114 transactions in 2014 to 1 out of every 86 transactions this year, on average.

The trend, according to ACI, is for more frequent attempts at lower dollar values. The analysis found the average ticket value of a fraudulent transaction decreased by $9, from $282 in H1 2014 to $273 in the first half of this year. In addition to the EMV shift, ACI also pointed to increased online shopping in general and continued data breaches seeding the environment with stolen information fraudsters can turn into cash.

"When it comes to fraud, 2015 is likely among the riskiest season retailers have ever seen; and it is critical that they prepare for a significant uptick in fraud, particularly within e-commerce channels," said Mike Braatz, senior vice president of payments risk management for ACI Worldwide. "Our findings suggest that merchants must be even more vigilant and shore up e-commerce fraud protocols, which may leave online shoppers more vulnerable."

Download Credit Card Fraud eBook

You may also like

[Industry Focus] Fraud Risk Profile for Nutraceutical and Drug Retailers

[Industry Focus] Fraud Risk Profile for Nutraceutical and Drug Retailers

As people become more conscious of what they’re putting into their bodies, there’s been an increased demand for high-quality supplements and healthful food and beverages. The result has been a..

3 Ways Tech Can Benefit Remote Teams

3 Ways Tech Can Benefit Remote Teams

Ecommerce businesses are used to an ever-evolving digital connection between them and their customers. But 2020’s COVID-19 pandemic has resulted in that digital connection making its way into the..

Shopping Habits by Gender: What’s Changed in 2020

Shopping Habits by Gender: What’s Changed in 2020

Do men hate shopping online? Are women more worried about fraud?

How Management Should Contribute to Fraud Protection

How Management Should Contribute to Fraud Protection

As companies grow, management often delegates business-critical tasks—marketing, technology, fraud prevention—to different departments. While it might seem to be an efficient way to get things..

“I Don’t Need Fraud Protection — My Business Isn’t at Risk!”

“I Don’t Need Fraud Protection — My Business Isn’t at Risk!”

As an e-commerce merchant, you know the risk of fraud, false declines and chargebacks. But maybe you think it won’t happen to you because you’re a relatively new — or small — e-commerce merchant,..

How Backtesting Can Improve Fraud Prevention

How Backtesting Can Improve Fraud Prevention

They say hindsight is 20/20, and that’s especially true for e-commerce merchants looking to increase their approval rates and decrease fraudulent transactions. It’s easy to look back at..

Is Fraud Risk Scaring You Away From International Shipping?

Is Fraud Risk Scaring You Away From International Shipping?

With cross-border shopping estimated to make up 20% of e-commerce in 2022, many merchants are right to consider expanding into other countries. So what’s stopping them from pulling the trigger?

Preparing Your E-Commerce Store for the Holiday Season

Preparing Your E-Commerce Store for the Holiday Season

It might still be summer on the calendar, but the holiday shopping season is just around the corner.  Are you ready?

Impact Analysis: Declined Transactions vs. Fraudulent Transactions

Impact Analysis: Declined Transactions vs. Fraudulent Transactions

Selling products and services online offers great opportunities for merchants, but it’s not without risk. Savvy cybercriminals use stolen personal data to defraud merchants, and sometimes, a..

Want to write
for our blog?

Please review our writers' guidelines
https://www2.clear.sale/press/clearsale-guest-blog-guidelines
and then email guestwriter@clear.sale with your pitch!

Subscribe to our blog