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UK banks outperform rest of Europe in reducing card fraud
K banks achieved the biggest
U reduction in card fraud losses last year among 18 countries across Europe , according to the updated FICO European Fraud Map . More than half of the countries saw increases in card fraud losses in 2019 according to the report , based on data from Euromonitor International and UK Finance .
“ Following a frustrating increase in 2018 – largely caused by an explosion of data compromise ‘ bust out ’ events – much of Europe has once again turned the tide on fraudsters , achieving a combined 2 % overall reduction ,” said Toby Carlin , Director of Fraud Consulting in EMEA at FICO . “ British consumers should be reassured that the United Kingdom achieved the largest single reduction in fraud at 8 %. This is a testament to the anti-fraud activities and investments by UK banks , which reduced fraud losses in 2019 by £ 52 million – that ’ s a million pounds every week .”
2019 was a strong year for many European countries in reducing basis point fraud losses ( a ratio of fraud losses to card sales ), against the backdrop of increased transactional volume and value in 2019 . But there were also some worrying increases . Most notably , France and Italy saw the largest value increases and were together responsible for 71 % of the monetary loss increases across the 18 countries studied .
NEW SURVEY REVEALS GLOBAL DEMAND FOR CUTTING- EDGE SOLUTIONS
cronis announced the release
A of Acronis Cyber Protect 15 , a
B2B solution which integrates backup , disaster recovery , nextgeneration antimalware , cybersecurity and endpoint management tools into a single solution . The findings of the Acronis Cyber Readiness Report 2020 illustrate why organisations need a cyber protection solution that reduces complexity and improves security while remaining cost-effective .
With Acronis Cyber Protect 15 ’ s unique integration of data protection and next-generation cybersecurity capabilities – including AI-based behavioural detection that stops zero-day attacks , URL filtering , vulnerability assessments , videoconference protection and automated patch management – organisations protect against modern cyberthreats while ensuring they can recover their data and systems in the shortest time possible .
The Acronis Cyber Readiness Report , which surveyed 3,400 global companies and remote workers in the wake of the ongoing COVID-19 pandemic , revealed that 92 % of the companies surveyed say they ’ ve adopted new technologies to enable remote work , including workplace collaboration tools , privacy solutions and endpoint cybersecurity .
Only 12 % of global employees chose full office work as an ideal work arrangement . A new normal will likely emerge . Among the 33 % favouring ‘ 50 % office / 50 % remote ’ split , there are the following EU country-level outliers : Sweden – 40 %, the Netherlands – 39 %, Italy – 39 %, Germany – 38 %.
10 Issue 30 | www . intelligentciso . com