While the US may have been the last major country to transition to EMV chip card technology, adoption has been swift – as has a corresponding rise in card-not-present (CNP) fraud, as fraudsters shift their focus to less protected channels such as the call center.
Not surprisingly, according to Aite Group, an independent research firm, 72% of executives expect call center fraud loss to continue to grow, with $4 billion in counterfeit card fraud moving into the phone channel.
