Credit card fraud: scams are on the increase on the Internet

If the rate of fraud on online payments had gradually fallen over the past seven years, it started to rise again in 2020. According to the annual report of the Observatory for the Security of Payment Means, the rate of fraud is now rising at 0.25%, or one euro defrauded for 403 euros paid on the Internet.

Credit card fraud
© Rupixen

Bank card fraud is on the rise on the Internet, according to the annual report of the Observatory for the security of payment methods, a national body intended for the exchange of information between the parties concerned by the security of card payment systems.

As it happens, the fraud rate now stands at 0.25%. The fault, among other things, of too weak security protocols. Indeed, only a third of payments by bank card on the Internet are currently subject to double authentication, reveals the instance. An essential protocol to protect yourself, but not highlighted enough. In this regard, a virulent phishing campaign is still underway on PayPal, caution.

Online payment fraud on the rise since 2020

While contactless payment scams are on the increase, bank card transactions have been particularly targeted by fraud since the start of the health crisis. They represent a quarter of the total amounts paid by card and 83% of amounts defrauded. « The fraud rate on these Internet payments is thus 0.25%, which means that there is one euro defrauded for every 403 euros spent. ” precise The world.

The rate had fallen in the last seven years thanks, in particular, to 3D Secure payments. ” […] but we have reached a plateau », Said Pierre Bienvenu, deputy head of the security service for non-cash means of payment at the Banque de France, to our colleagues. By the end of October, all beneficiaries of a card will have to submit to double authentication in order to speed up the maneuver and better secure transactions.

« We are waiting for the fraud figures for the first half of 2021 to see if the first effects are noticeable Added Pierre Bienvenu. On the other hand, the report shows that despite the impact of the health crisis on payment practices, the level of fraud observed on payments issued in France ” stay in control », with the exception of the rate of check fraud, which is increasing significantly.

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