Consumer education is generally touted as the answer to tackling fraud, but such strategies will only prove successful once providers gain better insight into what their customers look like - especially in terms of their attitudes and behaviors and the implications these stand to have on payment fraud levels.
Understand global fraud levels and the levels of fear of fraud among victims and non-victims based on the type of fraudulent activity.
Gain an understanding into how consumers react in the aftermath of fraud and how they view the role of banks in terms of preventing fraud.
Future-proof your fraud prevention strategy by identifying the most prevalent fraud types and the demographics that are the most susceptible.
Reasons To Buy
Which types of payment fraud are most prevalent?
How accountable do consumers hold themselves for incidences of fraud?
Which types of payment fraud are consumers most likely to react negatively to?
How is payment fraud most commonly detected?
What are consumer attitudes towards the use of biometric technology for payment authentication?
Verdict Financial's 2015 CPI Survey shows that 27.6% of consumers experienced fraud during the last three years globally, with the UAE (44.6%), China (43.8%), and Malaysia (41.4%) experiencing the highest number of incidents. Poland (18.5%), the Netherlands (14.6%), and Denmark (12.6%) reported the fewest incidents.
Within Europe, consumers typically experienced fraud at a rate below the global average. This is true for Poland, Belgium, Denmark, the Netherlands, Sweden, France, Italy, Norway, and the UK, with only Turkish consumers reporting higher-than-average incidences of fraud.
Post-fraud, 69.4% of total respondents globally were more careful, 18.1% did not change their behavior, 12.8% have used their card or account less since the fraud occurred, and 7.5% do not go back to where they think the fraud happened.
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