Card-Not-Present: Fraud on the Move, Back to the Future, Again
As fraudsters switch focus back to card-not-present schemes, research from consultancy Aite Group indicates that CNP fraud will soon outpace card-present fraud in the U.S. by a three-to-one margin. Globally, payments provider ACI Worldwide saw a 30 percent increase in CNP fraud in the first half of 2015. And ACI found that approximately 1.2 percent of all CNP transactions conducted between January and July 2015 were fraudulent.
See Also: Creating a Culture of Security
While in-person payment technologies become increasingly sophisticated, CNP transactions still rely on decades-old security mechanisms that are relatively easy to defeat. How are behavioral analytics being used to review payment trends across multiple channels, and how can tokenization help protect cardholders and issuers?
This session will discuss developments in CNP fraud detection and prevention via multifactor, multichannel authentication mechanisms that are applied across the endpoint and call-center channel, as well as real-time fraud monitoring systems and tools, such as the 3-D Secure messaging protocol.
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