What Card Issuers Need to Know About Payments Fraud

Halfway through 2022, it’s not that the fight against payments fraud has shifted to a whole new ball game. While criminals’ tactics are ever-evolving, the real challenge lies in the breadth and complexity of the fraud. It’s many ball games on many fields, all at once, and that’s the environment confronted by card issuers, merchants, and consumers alike.

Eric Kraus, Vice President of Fraud, Risk and Compliance Solutions at FIS, and John Buzzard, Lead Analyst in the Fraud & Security practice at Javelin Strategy & Research, discussed the current environment on an installment of PaymentsJournal Podcast, going in-depth on such topics as the evolving nature of fraud, how FIS’s acquisition of Worldpay has fortified efforts to combat fraud, insights gleaned from Javelin’s most recent identity fraud study, the risks of peer-to-peer payments, and ongoing consumer education and the steps needed to preserve and strengthen the connected relationships between card issuers and customers, customers and merchants, and merchants and acquiring banks.

It’s a lot for all the parties to take in — as Buzzard noted, increases are being seen across almost every area of fraud that is tracked, a situation he described as…