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In the Post-EMV World, Online Fraud May Decline, but Watch Out for Email Compromises

Digital Transactions

Fraud-control executives and researchers predicted card-not-present fraud would boom when the U.S. converted to EMV chip cards a few years ago, and, sure enough, it did. But if the experiences of other countries that adopted EMV before the U.S. are any guide, Americans can take relief in that CNP fraud losses will ease—but new threats related to real-time payments are emerging.

That’s the word in a recent working paper from the Federal Reserve Bank of Atlanta titled “The Future of U.S. Fraud in a Post-EMV Environment.” In it, Doug King, a payments risk expert at the Atlanta Fed, updates fraud trends in the United Kingdom, France, and Australia, three countries whose payment losses the bank studied in 2012.


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