Clear decline in bank card fraud in 2018

Visa cardsVisa cards.Photo: Pixabay

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Swindling with cards, skimming, and misuse of stolen cards fell by 35% in 2018 according to a report by Bits, the bank and the financial industry ‘s infrastructure company.

‘’We see that the banks’ long-term work for increased security in the card area is showing results’’ said Eivind Gjemdal, general manager of Bits.

He pointed out four factors that may have contributed to the clear decline: customers have become better at ensuring that PINs do not get lost, phasing out magnetic stripe cards
for chip cards, better robotic card transaction monitoring, and use of two-factor verification of card payments online.

© NTB Scanpix / #Norway Today

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1 Comment on "Clear decline in bank card fraud in 2018"

  1. Peter Davidson | 16. January 2019 at 20:30 |

    Whereas in the UK card crime is still on the increase.
    Is this Norge decline attributed directly to the efforts of the banks to tighten their online security?
    It was lack of bank investment by UK banks causing the increase released by the BBC today.

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