Card fraud on the rise in Europe

E-commerce

by CBR Staff Writer| 04 April 2013

Growing problem of card skimmers

Nearly five out of 23 European countries have reported a rise in transport ticket machine card fraud, new research reveals.

According to a report from the European ATM Security Team (East), there has been a rise in card-skimming devices tagged to parking ticket meters, while unstaffed pay-at-pump petrol stations have also been targeted by fraudsters in six countries.

Card skimmers are fixed to cash machines by criminals to steal bank card data and upon copying card data, fraudsters clone the card that incorporates the information of the original account holder and make withdrawals.

In response, European banks are planning to try and limit such fraud by launching a geo-blocking feature on debit and credit cards.

The UK Cards Association revealed that fraud losses on cards in the UK alone totalled £185m during the initial six months of 2012.

Several European countries have deployed Europay, MasterCard and Visa (EMV) card security known as chip and-pin, while the US has not yet adopted it.

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