Key Facts and Figures
Card Fraud
There are over 60 billion card transactions each year and the aggregate value of all of these is estimated to be in excess of USD 5 trillion.
One major card issuer reported that in the US alone there was over USD 3 billion worth of credit card fraud in 2007.
In countries where Chip & PIN has been introduced, face-to-face fraud has dropped.
According to APACS, in 2007 the overall cost of card fraud rose by 25% in 2007 to £535.2 million. Card-not-present (CNP) fraud was the biggest growth area, rising by nearly 40% and fraud committed overseas by criminals using stolen UK card details was up by £90.5 m (77%).
The ai Corporation
Our card fraud detection and prevention products are used throughout the world by:
- more than 60 major card issuers, acquirers and payment processors
- 3,000,000 retailers
RiskNet Issuer, RiskNet Acquirer and SmartAuth collectively monitor:
- in excess of 8 billion transactions and authorisations annually
- many millions of cards.
