Card Not Present Fraud

Card Not Present (CNP) fraud occurs when an individual with malicious intent employs stolen credit or debit card information to make unauthorized purchases. This illicit activity takes place through online platforms, telephone transactions, or mail orders. In the year 2022, the United Kingdom experienced a substantial financial impact, with CNP fraud costing £395.7 million.

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Problem overview

Fraudsters implement various deceitful methods, including phishing, card skimming, and man-in-the-middle attacks. In addition to exploiting data breaches or the dark web to acquire a customer’s sensitive information, such as card numbers, expiration dates, CVV codes, and personal identification information. Armed with this information, they can engage in CNP fraud.

Numerous financial institutions (FIs) worldwide now implement multi-factor authentication (MFA) or strong customer authentication (SCA) solutions to reduce instances of online card payment fraud. However, merely fulfilling security requirements or adhering to local regulations is one aspect, while optimizing fraud detection is another.

By integrating BioCatch's Inherence Analysis for SCA, you can enhance your existing multi-factor and compliant solution by incorporating an additional layer that evaluates how users input sensitive information like one-time passwords (OTPs) and passcodes. This assessment helps identify whether the user exhibits patterns typical of a fraudster using stolen details or a legitimate customer utilizing their card for an online purchase. By supplementing your existing knowledge and possession checks, this approach elevates your defenses against online card fraud to the next level.


Beyond Compliance:
Comply and Thrive in a PSD2 World

Explore the report from Goode Intelligence that delves into the impact of PSD2 Strong Customer Authentication (SCA) on payment fraud rates, alongside other consequences it has brought.

Discover how SCA compliance has influenced customer experience, transaction declines, and abandonment, and learn strategies to not only comply but also flourish in a post-PSD2 era.

Get the Report
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and harm your brand.

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