According to the Bank of Greece, in its first half 2020, cases of payment card fraud have skyrocketed 158.000, from 125.000 cases recorded in the immediately preceding semester, το β΄ του 2019.
This is an increase of his order 26%, which is of particular concern, to consumers, to the banks and the Bank of Greece.
As the central bank explains, Representative indicators of fraud intensity are the ratio of fraud cases and their corresponding value to the number and value of card transactions. In terms of fraud cases, the index fluctuated in the first half 2020 at its level 0,03% and corresponds to one fraudulent transaction per 3,3 mm. transactions.
In terms of value of fraud, the index fluctuated at its level 0,02% and corresponds to 1 euro fraud value per 5,2 mm. euro transaction value.
What are the most risky transactions
From the analysis of fraud per channel of transaction with payment cards such as transactions at ATM terminals, payments at POS terminals and remote transactions without the physical presence of the card (card not present – CNP), It turns out that the highest rate of fraud is manifested in the remote channel of transactions and in particular in online transactions..
More specifically, as reported by sofokleousin.gr, το α΄ εξάμηνο 2020, the number of fraud cases recorded per trading channel rose to 1.400 in ATM transactions, in 13.500 in POS payments and in 142.000 in CNP transactions.
The corresponding value of fraud cases per transaction channel was formed:
- in 334.000 euros in ATM transactions,
- in 430.000. euros in POS payments and
- in 5 million. euros in CNP transactions.
Further investigation of remote fraud confirms in the current semester that the majority of it concerns online transactions abroad, notes the BoG.
The non-extensive use of the international technical standard of secure Secure transactions by foreign payment service providers leads to higher fraud rates in cross-border internet transactions, in contrast to the Greek market where payment service providers have widely implemented the 3D Secure secure transaction standard.
The credit transfer fraud
About credit transfer fraud, The Bank of Greece states that according to the new methodology of the European Banking Authority for the collection of statistics of fraud cases and based on data of a secure representative sample 31 payment service providers, The year 2019 manifested 307 cases of value fraud 1,3 million. euro in credit transfers.
The ratios of the ratio of incidents and the value of fraud to the number and value of credit transfer transactions fluctuated at the level of 0,00009% and 0,00025%, respectively, and account for one fraudulent transaction per 1,13 million. credit transfer transactions with 1 euro fraud value per 407 mm. euro transaction value.
In terms of fraud techniques, the vast majority of them concern the method of manipulation of the payer by the swindler, reports the BoG. In this way, the payer provides good faith his consent to the execution of a payment order on behalf of a third party considering that he belongs to a legal beneficiary.
However, Payment service providers continue to expand consumer and business information to enhance security of credit transfer service users. Their goal remains the adoption by users of secure transactional behavior in order to protect themselves from malicious actions of third parties..
Direct debit transactions
Direct debits continue to be the safest means of payment throughout the year 2019 no fraud cases were reported by payment service providers.