Beyond the annual changes, there are some structural trends that emerge from the fraud statistics produc by the Observatory. Some are positive, such as the 38% drop in the fraud rate for online card payments between 2018 and 2023. This drop is undoubtly the result of the implementation of strong authentication rules, desir by European regulators, and which were deploy from 2019 under the aegis of the Observatory.
In this by fraudsters? respect, we were pioneers in France since actions were taken to introduce these particularly effective systems from the end of the 2000s. The fraud rate for instant transfers also remains under control (0.040% in 2023, a level lower than that of cards), which confirms the usefulness and effectiveness of strong authentication but also the rise of real-time risk assessment mechanisms deploy by banks and payment systems. On the check, the Observatory also notes encouraging signals in terms of security, even if this means of payment displays the highest fraud rate in our range of cashless means of payment.
That being said
we still have significant room for improvement and we must respond to the development of new fraud techniques. This is why, since June, the Observatory has been deploying a plan to secure remote card payments, which do not pass through secure protocols such as 3D-Secure.
In the area of checks, which still represent 31% of fraud amounts for less than 3% of transactions, there is also room for improvement, which is within our reach, even if the use of this means of payment is in sharp decline:! blocking a stolen checkbook should be as easy as blocking a card! and it should be free if the checkbook was stolen during postal delivery. I also invite consumers to collect their new checkbook from a branch whenever possible.
>>>Until a few years ago, the iran email list Observatory’s attention focus on certain cases of fraud, mainly affecting businesses and administrations, such as “CEO fraud”, which involves the fraudster usurping the identity of a senior manager and attempting to have payment transactions carri out by an employee. While this typology has of course not completely disappear and the vigilance of accounting departments remains essential! I note that payments issu by professionals (commercial paper, direct debits! transfers initiat by telematic channels) have very low fraud rates! thanks to widespread good practices in terms of connection security and control mechanisms.
On the other hand
following the implementation of strong authentication, fraudsters have adapt and turn to techniques for manipulating their victims. It is estimat that these you’re not wasting resources on addresses cases of fraud now represent 379 million euros, or nearly 32% of the amounts of fraud. First, and this is not new, fraudsters collect personal and payment data by phishing via fraudulent SMS or emails. Then, and this is where the novelty lies, fraudsters usurp the identity! of a trust person! such as a bank advisor or a representative of a public administration! to have the be numbers fraudulent transactions validat by the victims themselves! in particular by playing on the fear and urgency of the situation.
