UK Leads Europe in Card Fraud Loss Reduction with £49 Million Drop in 2021
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Tuesday, September 6, 2022
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Denmark and Sweden achieved the highest percentage decreases in losses while the UK reduced card fraud losses by 49 million, the largest decline in the region.
Key Points:
- Denmark and Sweden achieved the highest percentage decreases in losses while the UK reduced card fraud losses by 49 million, the largest decline in the region.
- Only four countries of the 18 studied improved their card fraud performance in 2021.
- The downward trend in card fraud losses is mirrored by an upward trend in fraud P2P payments in the UK.
- This extra layer of security is likely to have contributed to some of the reduction in UK CNP (card not present) fraud losses.