By Pascale Gelly
Annual report of the Observatory on Payment Cards Security
The French observatory body, "Observatoire de la securite des cartes de paiement," issued its fifth annual report. The report is available at www.observatoire-cartes.fr.
It observes a small decrease in the overall number of frauds in 2007 (-0,062% in comparison with 2006), with the total amount of fraud amounting to 268,5 millions of Euros. However, an increase in frauds on remote payments was also noticed (50,1 millions of Euros), and fraud rates were higher on payments via the internet than on payments by postmail or phone. The Observatory calls upon businesses to use secure payment means, including the use of CVx2 visual cryptograms.
Pascale Gelly is a partner at Cabinet Gelly. She can be reached at email@example.com.