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Q: Credit card fraud losses ( Answered,   0 Comments )
Subject: Credit card fraud losses
Category: Business and Money > Economics
Asked by: sanford32nr-ga
List Price: $50.00
Posted: 26 Jun 2002 05:49 PDT
Expires: 26 Jul 2002 05:49 PDT
Question ID: 33469
Credit card fraud losses in Europe, USA and in the rest of the world.
It must be a report or something like that. There must be numbers for
different years and detailed information about credit card frauds
commited and suffered losses...
I already found one site - but I need up-to-date
information and more detailed content.

Request for Question Clarification by it_biotech_guru-ga on 10 Jul 2002 21:04 PDT
Do you want all fraud, or would you like it split between total and
Internet-based fraud?
Subject: Re: Credit card fraud losses
Answered By: netcrazy-ga on 12 Jul 2002 12:34 PDT

Thanks for using Google Answers. I really enjoyed answering this
question. Last year, I had to face this fraud on my VISA card, but I
was fortunate enough to recover everything back.

There are many sites available with statistics, but I didn't find any
single source having details about credit card losses for US or Europe
or any other country together. Therefore, I'm putting these sources

For Canada, here are the statistics from 1999 to 2001.

There is a nice pdf document, which gives various statistics related
to CC frauds, online as well as traditional way. The document is about
setting the record straight about online credit card fraud for

2000 Internet Fraud Statistics

This site has statistics for the year 2001

Recent fraud statistics

While online credit card use accounts for only about 2% of Visa
International's total credit card transactions, more than 50% of its
discovered frauds/disputes relate to online use.

"US figures show online retailers suffered more than $460 million
worth of credit card fraud in 1999. In the UK, online fraud topped $22
million in the past year, a jump of more than 60 per cent on the
previous year, according to Interactive Advertising Board figures."

There has been a year over year decrease in the total dollar losses
associated with credit card fraud, from over $156 million at the end
of 2000 to approximately $142 million at the end of 2001

Types of Credit Card Fraud

The criminal use of credit cards can be divided into the following
- Counterfeit credit card use;
- Cards lost by or stolen from the cardholder;
- Fraud committed without the actual use of a card (no-card fraud);
- Fraud committed on cards not received by the legitimate cardholder
  receipt fraud);
- Cards fraudulently obtained by criminals who have made false

This is an excel sheet having credit card statistics from Canadian
Bankers Association.

Credit card fraud statistics for UK

2001 Internet Fraud Statistics

A credit card fraud only at 0.4%, but govt is still concerned. A
report about the credit card frauds in Malaysia

Plastic money frauds have already reached an epidemic stage in
countries such as the US which sees around one billion dollar frauds
per annum and, UK which had frauds of about 73 million dollars in

FRAUDS TOPS $1 BILLION - From the June 1998 Issue of CardTrak

Credit card fraud rises by 50%

A report from FBI and Financial Times regarding Credit card fraud

Search terms used:

Credit card fraud losses
Credit card fraud Europe

I hope this satisfies your question. Please ask for clarification if
you are not satisfied and if you think that this answered your
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