Payment fraud knows no national boundaries. Organised criminals operate at a global level to clone cards, hack payment systems, phish for card details and disrupt commerce, all at the cost of billions of pounds per year. Yet while the Internet and
ecommerce have connected business and trade in a way unheard of even 20 years ago, bringing a truly global economy, markets are still diverse. From Germany to Ghana, from China to Canada, each market has different patterns and regulations for fraud. There are fraud hotspots, there are particular security issues associated with particular regions and there are different methods of payments in different territories.
Organised criminals operate at a global level to clone cards, hack payment systems, phish for card details and disrupt commerce. Yet while the Internet has created a truly global economy, markets are still diverse.
Each market has different patterns and regulations for fraud. There are fraud hotspots, there are particular security issues associated with each region and there are different methods of payments in different territories. Taking a global view of what's going on provides insight into the regional trends that impact upon global payment security, as Christoph Tutsch of ONPEX explains.