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Card fraud losses in Ireland reached €16.6 million in 2009. While Chip and PIN dramatically reduced Ireland's exposure to card fraud in the face to face shopping environment, criminals sought other ways to generate revenue from card fraud crime. Some 74% of all card fraud is now carried out in a Card Not Present environment and this trend continues to grow upwards.
The 3D Secure tool is the latest in a series of ongoing developments by the payments industry to help protect Irish cardholders and retailers from fraudsters and is especially designed for Internet use. When using 3D Secure, cardholders enter a pre-registered pass phrase to verify they are the owner of the card before the Internet transaction can proceed. 3D Secure gives greater assurance to cardholders and retailers during the process of internet shopping. It has been a successful tool for merchants especially, to help cut down on internet card fraud.
Further information regarding protection against Card Not Present fraud from both a cardholder and retailer perspective, is available on this website.
SafeCard is a task force charged with combating card fraud levels in Ireland. It was established by IPSO Card Services in 2003. Under the direction of the Card Fraud Forum, which consists of representatives from payment card issuers and payment processors, the PSNI and the Garda Bureau of Fraud Investigations, SafeCard continues to run campaigns to help educate merchants and consumers about the harmful effects of card fraud and to provide simple yet effective fraud prevention tips.
Please visit the cardholder & retailer sections of this website for tips on how to prevent specific card frauds. The SafeCard Team can provide you with information, payments industry expertise and publications on payments related matters. Feel free to contact us.
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