U.S. EMV chip card adoption, starting in 2015, helped trigger a migration to other fraud types such as identity and card-not-present transaction scams, as well as so-called sleeper fraud and account takeover.
The Global Fraud Index shows a 62% rise in online fraud from third quarter 2015, and 39% between first and second quarter of 2016.
"The prediction the years before was that the fraud would move to digital. There was a precedent for that, it happened in other countries," Mike Lynch, chief strategy officer of Boston-based device authentication and intelligence firm InAuth, said.
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