Payments News


Facing a Big Jump in U.S. CNP Fraud, Retailers Turn to Automated Tools

“This fraud will increase from an estimated $5.5 billion this year to $6.4 billion in 2021. “CNP fraud losses continue to increase globally due to the wealth of data available from data breaches and other sources,” Shirley W. Inscoe, a senior analyst at Boston-based Aite, says in an email. “Some countries that saw a decline last year are seeing these losses on the rise again. CNP fraud is a low risk/high reward crime, and will continue to grow until major changes occur.””