From Application to Transaction: Card Fraud Trends, Threats, and Tactics

Over the past several years, there’s been an evolution in card fraud. With the advent of the EMV chip card standard, criminals are changing their digital habits, adapting with consumer trends and moving on from the point of sale (POS). As a result, card-not-present (CNP) fraud has accelerated and shows no signs of slowing down. Meanwhile, fraudsters are increasingly leaning into application fraud and with great success. The number of victims of new card account fraud is sharply rising — with crooks increasing their focus on private label credit and debit cards to find new profits. The onus is on FIs and issuers to simultaneously build higher walls, increase customer engagement, and better utilize digital technology to navigate the ever-shifting sands of payment card fraud.

This original report, sponsored by FIS, examines how payment card fraud is manifesting at the application stage and during transactions, and identifies the opportunities for financial institutions and other card issuers to preserve relationships with their customers by preventing, detecting, and resolving fraud.

This research report was independently produced by Javelin Strategy & Research. Javelin Strategy & Research maintains complete independence in its data collection, findings, and analysis.