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Payment card fraud: global trends and empirical evidence on Internet card fraud in Italy

Guerino Ardizzi (), Elisa Bonifacio () and Laura Painelli ()
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Guerino Ardizzi: Banca d'Italia

No 562, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The expansion of retail trade at global level, spurred by online transactions (e-commerce), has led the European legislator to strengthen safety//security measures. This paper aims to assess the trend of card fraud in recent years, taking into account the latest regulations. After an extended period of growth, since 2016 the online fraud rate has recorded a decline in Italy and Europe. Empirical analyses of banks’ data carried out in Italy show that the decrease is correlated with successive improvements in anti-fraud measures over recent years. The paper also shows the main anti-fraud measures adopted by intermediaries (e.g. strong authentication and risk mitigation models) as well as protection mechanisms for customers in the event of fraud (e.g. exercise of the right to a refund within one day after filing the request), making it safer to buy online.

Keywords: Internet; fraud; payment cards; card fraud rate; online transactions; security (search for similar items in EconPapers)
JEL-codes: C22 C23 D12 E21 (search for similar items in EconPapers)
Date: 2020-06
New Economics Papers: this item is included in nep-ict, nep-mac and nep-pay
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