News

The fraud and counterfeiting of non-cash means of payment pose a serious threat to the EU’s security - they

provide income for organised crime and enable other criminal activities such as terrorism, drug trafficking and

trafficking in human beings. In addition, non-cash payment fraud affects the trust of consumers in the security

of the digital single market, reduces economic online activity and causes important economic losses. To boost

Member States’ capacity to prosecute and sanction cyber criminals committing non-cash payment fraud, the

Commission is proposing a new Directive to combat the fraud and counterfeiting of non-cash means of payment.

CYBERSECURITY

TACKLING NON-CASH PAYMENT FRAUD

December 2018

WANTED

WHO?

FIGURES

HOW DO THEY DO IT?

Well-structured and globally active

organised crime groups dominate the

rising market of payment card fraud

in the EU.

Non-cash payment fraud can take different

forms. Criminals can trigger the execution of

payments by using payer information obtained

through, for example, phishing, skimming or

obtaining information on dedicated websites

selling stolen credit card credentials on the

darknet.

Payments can also be fraudulently executed

through counterfeit or stolen cards used to pay

in stores or withdraw cash in ATMs or through

the hacking of information systems to process

payments. Existing data for card fraud shows

that 77% is committed without the presence of

the card, by using stolen card credentials.

36 BILLION phishing messages sent

every year

€1.8 BILLION gained by criminals per year

$1 BILLION lost by airlines per year

€1 BILLION fraud in online shopping