Losses in the billions
In Europe, losses due to fraud reached approximately 1.8 billion EUR in year 2016. The UK experienced the highest losses for a single country, where in 2015 the total loss was 646 million EUR and in 2016 this increased to 703 million. The UK and France alone contribute almost 75% of all card fraud in Europe.
Rising fraud trends
Based on data from Euromonitor International and the UK Cards Association, the card fraud losses across 19 European countries show that CNP (card not present) fraud increased from 50% of all fraud losses in 2008, to 70% in 2016.