Central Banking

Card fraudsters abandoning ‘safer' Europe for more vulnerable markets, says ECB

A padlock on a number of credit cards

Card fraud has declined steadily in Europe since 2007 due to technological advances that are making transactions safer, but countries without such technology have seen an increase in fraud, the European Central Bank (ECB) concluded in a report published yesterday.

Despite an increase in card usage, the value of fraud in the Single Euro Payments Area (Sepa) – comprising 516 million citizens in 32 countries: the European Union member states, plus Iceland, Liechtenstein, Monaco, Norway and Switzerl

To continue reading...