France Tops In Euro Card-Fraud Loss

When it comes to payment-card fraud, France now has the dubious distinction of taking the top spot in Europe. According to FICO's (NYSE:FICO) analytics blog, France edged out the U.K., which has been the fraud-loss champion for years. The problem isn't that French retailers have inherently worse security than anyone else in Europe, but that security is an arms race—as merchants, acquirers and banks plug security holes, thieves look for new attacks. Despite the security advantages of EMV, European card fraud losses were 6 percent higher in 2012 than in 2011—and France alone generated almost half the total fraud-loss increase. Story