Relentless pace of Internet trade in stolen credit card details continues

摘要

Crime can never be defeated, only managed, and this can mean merely diverting it from one channel to another for a variety of reasons including the convenience of insurers or those who have to cover the losses. Cynics might suggest that the migration to chip-and-PIN credit cards ultimately achieves no more than offloading liability for fraudulent transactions from cardholders to merchants, by shifting them onto cardholder not present (CNP) sales. And a fast growing number of such sales take place over the Internet. Whatever the case, the fall in cardholder present fraud resulting from chip-and-PIN has been accompanied by accelerated growth in Internet fraud, which is the next big challenge for the payment industry.