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Subject:
Credit Card Fraud statistics for 2005
Category: Business and Money > eCommerce Asked by: iwa93stt-ga List Price: $60.00 |
Posted:
26 Jan 2006 15:01 PST
Expires: 25 Feb 2006 15:01 PST Question ID: 438070 |
What is the total dollar (Cdn$) value of credit card transactions conducted in the USA and Canada where the Card was not present (CNP) in 2005 and what percentage of these were fraudulent? Global Insight has several reports that may contain some of this information. I am only interested in VISA and Mastercard information. The various VISA and Mastercard associations may also have this information. CNP could be on-line payments or payments over the phone but really any type where the physical card is not present. Your answer should look something like: Canada Total VISA CNP $x,xxx millions Total Mastercard CNP $x,xxx millions Fraud xx.xx% US Total VISA CNP $x,xxx millions Total Mastercard CNP $x,xxx millions Fraud xx.xx% |
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There is no answer at this time. |
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Subject:
Re: Credit Card Fraud statistics for 2005
From: antontodorov-ga on 31 Jan 2006 04:48 PST |
CANADA: In an October 2004 report by CANADIAN BANKERS ASSOCIATION, the following information relevant to your question is provided: Number of Cards in Circulation (Millions) 53,4 Net Retail Volume (Billions) $168,78 Net Dollar Volume (Billions) $192,17 Gross Sales Slips Processed (Millions) 1 664,8 Average Sale $104,00 %Delinquency90 days & over 0,8% !!!!!!!!!! # of Cards Reported Lost or Stolen 1 070 547 !!!!!!!!!! Number of Cards Fraudulently used 177 081 !!!!!!!!!! $ Amount of Fraudulent Accounts written off (Millions) $163,18 Merchant Outlets 1 128 410 VISA/MCI Principal Issuers 23 PRINCIPAL VISA AND MASTERCARD ISSUERS: VISA Bank of America, Bank of Nova Scotia, Caisses Populaires Desjardins, CIBC, Citizens Bank of Canada, Home Trust, Laurentian Bank, Royal Bank, TD Bank, US Bank, Vancouver City Savings Credit Union. MCI Alberta Treasury Branches, Bank of Montreal, Canadian Tire Acceptance Ltd, Capital One, Citibank Canada, Credit Union Electronic Transaction Services Inc., G.E. Capital Corp., MBNA Canada. ---- For further information visit the following link: http://www.cba.ca/en/content/stats/050210-Credit%20cards-EN.xls *********************** USA More than one in three of the 686,000 consumer complaints filed with the FTC and other agencies last year concerned identity theft. The number of identity theft complaints rose from 215,177 in 2003 to 246,847 in 2004 to 255,565 in 2005. That's an increase of almost 19 percent in two years. Stolen identities were most often used in credit card fraud (26 percent), split almost evenly between setting up a new account or raiding an existing account. Other big uses are to commit phone or utilities fraud (18 percent) or bank fraud (17 percent). In 2003, Canadian financial institutions reimbursed about $44 million to customers after scams compromised 27,000 bank cards. The following year, however, total reimbursements jumped to $60.2 million affecting some 48,900 cards. There are about 35 million debit cards in circulation in Canada, in addition to 53.4 million credit cards issued by Visa and MasterCard, according to the Canadian Bankers Association. In 2004 Visa and MasterCard wrote off $163.1 million in fraudulent accounts, up from $138.6 million the year before (2003) --- I will keep looking for the US data and put it online shortly Bests |
Subject:
Re: Credit Card Fraud statistics for 2005
From: antontodorov-ga on 31 Jan 2006 05:54 PST |
Hi it is me again I did not manage to find updated credit card specific fraud losses data for the USA. --- Yet: According to the Consumer Fraud & Identity Theft complaint data... Federal Trade Commission Released January 25, 2006, Between January and December 2005, Consumer Sentinel, the complaint database developed and maintained by the FTC, received over 685,000 consumer fraud and identity theft complaints. Consumers reported losses from fraud of more than $680 million. The reports in the below mentioned booklet analyze those complaints. Credit card fraud (26%) was the most common form of reported identity theft. ID theft amounted to 37% of all fraud-related complaints. http://www.consumer.gov/sentinel/pubs/Top10Fraud2005.pdf --- The following report http://www.gao.gov/cgi-bin/getrpt?GAO-02-363 provides MasterCard and Visa Fraud Losses by Calendar Years . The problem is - it is too old to be of any use. Unless you decide to calculate the average rate of increase as per the FTC report... *** Hope this works for you Best Regards |
Subject:
Re: Credit Card Fraud statistics for 2005
From: antontodorov-ga on 31 Jan 2006 06:02 PST |
BTW, Global Insight has not published any data on MCI or Visa for the past year. The Information Systems Security Association reported that Visa and MasterCard issuers lost $820 million in 2003 to phishing. That number "will increase for 2004". |
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