In a recent study conducted by Juniper Research, they found that CNP (Card Not Present) fraud will significantly increase to more than double by 2020. They attributed this jump to the implementation of the EMV chip in brick and mortar stores, which has already caused fraudulent activity to shift online by 11% since October. Because of the higher security the chip provides, fraudsters have been less inclined to focus on brick and mortar and they shifted their efforts to online.
This shift has major online retailers tightening security by integrating proactive fraud prevention solutions to thwart off fraudulent activity and reduce the risk targeting their business. And although fraud tactics perpetually change, solutions like NoFraud are developed to detect the latest behavioral trends among fraudsters to stay one step ahead and reduce fraud significantly. Major retailers using these solutions have succeeded in reducing their fraud rate.
Read the full article here: SC Magazine.