Payment Card Fraud in Asia Pacific

Overview

Introduction

Payment card fraud is a problem that will not go away. Fraudsters are becoming more sophisticated creating key challenges for all parties in fraud prevention. How significant is the problem of card fraud in Asia-Pacific? And what is being done to tackle the problem? Payment Card Fraud in Asia-Pacific 2004 answers these questions and more. It is the definitive guide to card fraud in the region.

Scope

• Covers payment card fraud in the major markets in Asia-Pacific including Australia, Hong Kong, Malaysia, Singapore, South Korea and Thailand.
• Includes data on fraud losses for the period 1999-2003 and examination of key fraud trends such as the growth of counterfeit fraud.
• Examines fraud preventative measures such as online security initiatives and EMV with specific details on applicability and success in Asia-Pacific.
• Examines what payments stakeholders can do to prevent fraud from worsening in the future.

Report Highlights

In an environment where fraud losses are falling it is very difficult for a card issuer to build a business case for significant investment in anti-fraud technologies. This is illustrated in Australia where falling fraud losses account for the lack of progress towards EMV compliance.

Key to building a case for the implementation of anti-fraud technologies is the presentation of additional business reasons to warrant the necessary investment. Card issuers, card schemes and technology vendors must ultimately find ways in which a greater return can be earned from the same level of investment in anti-fraud technologies.

In South Korea EMV roll-out has been integrated with the movement towards mobile payment technologies. SK Telecom, the country's largest mobile operator, offers the Moneta service which allows customers to make payments using EMV compliant chips embedded in their mobile phone.

Reasons to Purchase

• Quantify payment card fraud in the Asia-Pacific region and compare fraud rates in individual markets.
• Identify key fraud trends likely to affect your business in the years ahead and how to respond to them.
• Learn from payment stakeholders whose response to card fraud has been particularly pro-active.