One in four people have been victimised by credit, debit or prepaid card fraud during the past five years according to global study of 5,200 consumers across 17 countries (view press release). ACI Worldwide and Aite Group’s research also found that around 20% of respondents plan to stop using, or switch from, the card impacted by fraudulent activity. Residents in Mexico (44%) and those in US (42%) reported the highest percentage of direct experience with card fraud, while The Netherlands and Sweden tied for the lowest levels of fraud at 12%.
“The results of this survey show that card fraud continues to be one of the greatest threats and concerns for consumers, financial institutions and retailers,” said Mike Braatz, SVP Payments Fraud, ACI Worldwide. “While there have been significant advances in fraud prevention technology, it is clear that more needs to be done to educate consumers about fraud and engage them as allies when it occurs. These results should serve as a call-to-action for financial institutions and retailers to remain constantly vigilant and earn the trust of customer by working with them to combat fraud.”