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Business Wire
4 days ago
- Business
- Business Wire
FICO European Fraud Map: UK Leads in 'Card Not Present' Fraud and Total Losses
LONDON--(BUSINESS WIRE)--The FICO European Fraud Map 2024 has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries. E-commerce fraud, e-wallet, social engineering and QR code fraud or 'quishing' are all rising as well. 'While card fraud loss figures are still lower than the 2015 peak of €1,642 million, the last few years show that fraud in Europe is steadily rising back up towards this figure.' - James Roche, FICO Share Highlights Card fraud losses across EMEA have increased from €1,493m in 2021 to €1,578m in 2024 UK card fraud increased by 4% to £572.6 million since 2023 CNP fraud accounts for around 70% of total card fraud losses in the UK – increasing by 11% year on year Hungary saw the greatest increase across Europe at 22% — card fraud losses also dramatically increased in Norway, Denmark and Hungary Portugal and the Netherlands are the only countries to see fraud levels fall 'While card fraud loss figures are still lower than the 2015 peak of €1,642 million, the last few years show that fraud in Europe is steadily rising back up towards this figure,' commented James Roche, principal fraud consultant for FICO in EMEA. 'The UK has followed a similar trajectory to the rest of Europe, aligning with what FICO has seen in terms of the dominant fraud MOs that plague both the UK and Europe, as well as the common approaches taken in the last decade via initiatives such as PSD and PSR.' Card Losses Grow in UK In 2024, UK Finance reported £572.6 million in total card fraud losses, a 3.9% increase from £551.3 million in 2023. This goes against the trend of the past few years of falling card losses and a broader trend of stabilisation in the UK payments landscape, which is a cause for concern. Card Not Present (CNP) fraud remained the leading fraud category, accounting for around 70% of total card fraud losses. This marks an increase of 11% from 2023 and puts the UK at the top of the league table for CNP fraud losses in Europe, underscoring the persistent risk associated with remote transactions. Conversely, identity (ID) fraud losses dropped significantly by 26% to £58.7M, pointing to a shift in criminal behaviour away from ID theft and towards social engineering, data compromises and scams. The growing use of fraud enhancements such as biometric and behavioural monitoring tools are also likely to have contributed to the decrease. Plus, continued investment by UK and EU financial services in full customer journey visibility and data sharing is enabling identity characteristics to be monitored from onboarding through early book and ongoing lifecycle stages of the customer journey. 'The UK has long been a leader in deploying innovative fraud technology, and clearly the challenges are still growing,' Roche said. 'With PSD3 regulations now taking effect across Europe, we see fraud prevention teams moving towards a unified approach to fraud risk assessment. Continued investment in preventative tools, such as Scam Signal, and intelligence-led fraud detection remain critical to protecting card portfolios from evolving threats.' The Picture across Europe Other highlights from the FICO European Fraud Map show the impact card fraud is having across the region: In Norway fraud losses have dramatically increased over the last few years from €14M in 2021 to €26.4M, rising 8% in 2024. Denmark demonstrated a more than twofold increase in fraud losses (€19.6M to €47.6M) since 2021, and a concerning 20% rise in 2024 alone. In Hungary, fraud losses jumped from €3.3M to €22.4M from 2021 to 2024, rising by 22% in 2024. Greece has also seen a significant increase, with a twofold increase from €13.4M to €28.4M since 2021 and 20% in 2024. Sweden's losses have risen significantly from €13.1M to €24.2M, an increase of around 85% in three years, and 19% during 2024. Despite the overall EMEA loss picture trending slowly upwards, a few countries are seeing a downward trend in their card fraud losses: France's losses are slowly but steadily decreasing and have done so consistently since their peak at €433.2M in 2018. They now sit at €409.2M, the second highest losses of the 18 countries studied but setting a good example for controlling their losses. Turkey showed significantly lower losses at €1.1M for 2024, but they too are reducing their fraud losses consistently and have done since their peak at €14M in 2010. However, 2024 saw fraud rise by 5% in Turkey. 'With PSD3 regulations due to take effect across Europe in the next couple of years, financial institutions must work harder than ever to fight new fraud patterns and improve customer service,' said Roche. 'We are seeing a number of emerging approaches that unify protection that is currently siloed, using 360-degree customer profiling to assess fraud and financial crime risk across all channels and products and throughout the entire lifecycle of the customer (onboarding through to offboarding). We at FICO believe this approach is absolutely critical, as criminals look for the weakest link in fraud defences.' FICO's fraud solutions portfolio includes the AI-powered FICO ® Falcon ® Fraud Manager, which protects more than 4 billion cards worldwide; FICO ® Omni-Channel Communications for Fraud, available on FICO® Platform; and award-winning models for scam detection, as well as the award-winning Scam Signal product developed with Jersey Telecom. About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at FICO and Falcon are registered trademarks of Fair Isaac Corporation in the United States and other countries.
Perth Now
6 days ago
- Entertainment
- Perth Now
Aussie comedian takes jab at sacked Nedlands mayor
Comedian and online personality Jimmy Rees' latest skit poking fun at Perth has taken a few jabs at the ousted Nedlands mayor. The former star of ABC kids show Giggle and Hoot has built an online following of 1.8 million on TikTok, posting a variety of skits about life in Australia and comparing the different States and Territories. His latest series, 'Not so emergency department', details what minor inconveniences residents from different parts of Australia complain about. In Rees' Perth edition, which was uploaded online on Sunday and has received more than 630,000 views across his platforms, he took a jab at the situation in Nedlands council. Where the entire council of elected members were sacked including the mayor, Fiona Argyle, after it was seen as dysfunctional. Comedian Jimmy Rees poked fun at the sacked mayor during his latest online skit. Credit: TikTok / Jimmy Rees Jimmy, playing both an employee at the 'Not so emergency department' and a cast of other characters from different suburbs took aim at the chaos. 'Darling I'm from Nedlands and I'm depressed,' his character remarked. 'Are you running for mayor or getting sued?' Rees replied. 'No, no... do you think I could run?' he said as his character raised their eyebrows. Comedian Jimmy Rees. Credit: TikTok / Jimmy Rees Before the character expresses their concerns about volcano's in Bali and not being able to 'sun my cooter', before drinking from a bottle of wine. The online entertainer takes another jab at the ousted mayor at the end of the skit, where he receives a phone call saying 'it's from the former mayor of Nedlands', before he answers the call and quickly hangs it up again. A comment on the video applauded him for making light of the situation and wished that he had gone harder at the former mayor, which he replied 'The quote 'everyone loves dying kids' is absolutely wild from the former mayor.' If you'd like to view this content, please adjust your . To find out more about how we use cookies, please see our Cookie Guide. The Victorian comedian took a swipe at other Perth suburbs, including a character from Guildford coming in to report a problem, with Rees guessing it was 'aircraft tyre marks on your roof.' The resident's actual concern was with the smell of the Swan River saying it smells like 'poo poo', which Rees reassured him by taking another dig at Nedlands. 'Residents of Midland and Woodbridge have been reminding themselves that the Swan River does flow towards Nedlands if you know what I mean,' Rees said while winking towards the camera. The former Dancing with the Stars contestant then wrapped up the video by pointing out Western Australia's positive aspects, after a character comes in displaying what he called 'Eastern Validation Deficiency disorder' and 'Chronic Comparisonitis', which he gave a simple prescription to. 'Recite the phrase on here, whenever you see symptoms coming on just go watch the footy at Optus and check the weather in Melbourne,' Rees told the character. With the character laughing at Melbourne's forecast of 'Nine degrees' before repeating '10 per cent of the population, 48 per cent of exports'.
Daily Mirror
07-07-2025
- Sport
- Daily Mirror
Viktor Gyokeres closes in on Arsenal transfer as Martin Zubimendi joins
Arsenal have finally completed the signing of Martin Zubimendi from Real Sociedad and they are also closing in on a deal for Sporting Lisbon striker Viktor Gyokeres Arsenal are set for a huge summer in the transfer market as Mikel Arteta looks to add plenty of reinforcements to his squad. The Gunners have finished second in the Premier League for the past three seasons and will be desperate to go one better next season. They have already signed a backup goalkeeper in Kepa Arrizabalaga and a new midfielder in Martin Zubimendi, but plenty more additions are expected before the window closes on September 1. Several players have also left the club, with Nuno Tavares and Marquinhos making loan deals permanent, while Takehiro Tomiyasu reached an agreement to terminate his contract 12 months early. Zubimendi joins Martin Zubimendi has finally completed his move to Arsenal, with the Gunners paying slightly more than his £51m release clause. Arsenal have forked out £55m for the midfielder in order to secure more favourable payment terms, with Zubimendi agreeing a five-year deal that runs until 2030. "This is a huge moment in my career," the Spain international said. "It's the move I was looking for and one I wanted to make. As soon as you set foot here, you realise how big this club and this team are. I set my sights on Arsenal because their style of play is a good fit for me. They have shown their potential recently and the best is yet to come." Gyokeres closes in on move Arsenal are close to agreeing a deal for Viktor Gyokeres after advancing in talks with Sporting Lisbon. Although Arsenal and Sporting have yet to agree a transfer fee, Gyokeres has already agreed personal terms with the Gunners and made it clear that he wants to move to the Emirates this summer. Sporting are holding out for a deal worth around £70m, with at least £60m paid up front, and Arsenal are understood to be pushing hard to reach an agreement with the Portuguese champions. Madueke agrees personal terms Arsenal have received a major boost in their pursuit of Chelsea star Noni Madueke after they agreed personal terms with the winger, according to a report from the Athletic. However, it is claimed that Arsenal and Chelsea have not begun talks yet, with the Gunners considering moves for a number of other wide options. Chelsea boss Enzo Maresca was recently asked about Madueke's future and said: "My message to the players and to the club is that I want just players that are happy to be with us. "The ones that are not happy, they are free to go. It's not for Noni, it's for all the players we have. But again, Noni has been very good during the season and very good tonight." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
STV News
04-07-2025
- Business
- STV News
Plans to install hundreds of 4G masts in rural areas scaled back
A project to install more than 250 mobile masts in rural Scotland has been massively scaled back following pressure from business and nature groups. The Shared Rural Network project had planned to build 258 4G masts across unserved parts of the country. But this will now be reduced to just 44 following revised plans – a reduction of around 83%. It comes after pressure from groups including Scottish Land & Estates, the John Muir Trust, the National Trust for Scotland, and a number of community councils. Opponents say the project would have installed masts in parts of the country that do not require them, and the scaled-down proposals will protect some of Scotland's most beautiful scenery. Anna Gardiner, senior policy adviser at Scottish Land & Estates, said: 'We are delighted that the Government has listened to our concerns and has scaled back the number of masts to be built in areas where they simply were not needed. 'This protects some of our most spectacular and beautiful landscapes and will alleviate pressure on planning authorities in rural areas. 'The original plan was totally flawed as it was based on covering an arbitrary percentage of the UK's geography, but in fact it did not benefit many of the rural communities and businesses which are currently in Total Not Spot Areas – where there is no 4G coverage from any provider. 'These areas are still crying out for a mobile network and in many cases community councils have been ignored. 'We would urge the UK Government to redirect the considerable sum of money that has been saved in order to prioritise these communities.' Thomas Widrow, head of campaigns for the John Muir Trust, said: 'This is great news for the amazing landscapes and biodiversity of Scotland. 'Some of the proposed locations for a mast were completely inappropriate. 'We need to ensure there is connectivity where people live and work, not in our most fragile and remote wild places.' Telecoms minister Sir Chris Bryant said: 'The Shared Rural Network has been a lifeline for rural areas, helping bring fast and reliable mobile internet to over 95% of the UK a year ahead of schedule. 'Our updated plans with telecoms operators will ensure new coverage is focused on those rural areas in Scotland where people actually live, work or travel, including popular walking routes. 'This important step will ensure masts are only built where they are most needed.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Evening Standard
03-07-2025
- Business
- Evening Standard
Plan to install mobile masts across rural Scotland massively scaled back
'The original plan was totally flawed as it was based on covering an arbitrary percentage of the UK's geography, but in fact it did not benefit many of the rural communities and businesses which are currently in Total Not Spot Areas – where there is no 4G coverage from any provider.
