Fighting Fraud with Distributed Ledger Technology

Historically, card payment fraudsters have adjusted their activities to exploit the changing landscape of the industry. Implementation of EMV technology in the card-present environment forced fraudsters into the card-not-present space. With the new PSD2 Strong Customer Authentication requirements coming into force in 2019, and with card schemes mandating the implementation of the new security standard, 3D Secure 2.0, it is anticipated that online fraudsters will seek out new channels for their criminal activities. In doing so, they are likely to turn to chargeback fraud, an area that is difficult to deal with and already causing businesses major losses.
This White Paper discusses the challenges of this new reality, the limitations of the response to date by regulators and card schemes, and a potential technological solution to the problem.