Most of the rise in losses came from online transactions, reflecting the growth in this channel, the ease of accessibility to funds and lower risk for criminals, and the theft of personal data through cybercrime.

UK card fraud

UK losses increased by 18% in 2015 over 2014 to £88.5 million of losses. Some 75% (£66.7 million) of that increase was in CNP fraud and £42.4 million was down to e-commerce, see chart below:

Source & Copyright©2016 - Euromonitor

The rest of Europe

The total value lost to fraud declined from .08% to .06% from 2010 to 2015 reflecting innovation in card payment security. However, the focus of fraud is shifting to online retailing.

The report showed different local patterns of fraud:

• UK: highest card not present (online)dominated
• Denmark: highest card lost/stolen & card not present (online)
• France: ID fraud highest, then card lost/stolen

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CTMfile take: Although, in the next decade online fraud will be by far the biggest source of new fraud, the significant variations in the types of fraud/country means that the fraud prevention programmes will need to be at a country level not just pan-European.