Card-not-present fraud remains prevalent.
One of the many consequences of the COVID-19 pandemic has been a dramatic increase in online shopping and purchasing. Unsurprisingly, this was followed by a large jump in card-not-present (CNP) fraud attempts, actual fraud and false positive declines at checkout. Making matters even more urgent, pre-pandemic fraud was already increasing – in 2019 alone there were over 7,000 data breaches, according to Risk Based Security as reported in CB Insights' "2020 Cyber Defenders" report. The time to adopt a CNP fraud prevention solution is now.
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