DurangoAvatarIf the US Follows the Post EMV Fraud Path of Poland

Stopping Bad New Habits in Their Tracks

If the United States were to follow the post EMV fraud path of Poland then the US will see fraud peak at around $19.45 Billion per year in 2018, and then fall to roughly 11.7 Billion dollars.  Unlike countries such as the Netherlands and Germany, Poland utilizes the same payment networks as the United States and in roughly the same numbers.   Poland has received high marks for keeping fraud low and responding robust security measures when things started to get out of hand.  The EMV shift seemed to put a large dent in Lost & Stolen and counterfeit card fraud, which went from 72% of total fraud to just over half.

In 2012, 18% of Polish citizens polled said that they had experienced fraud.  This is compared to a whopping 42% in the United States.  Part of this can be explained by the lack of EMV Chip & Pin cards, part of it can be explained by a larger ecommerce segment in the US, and the final part is a general lack of focus on fraud in the United States.  The 2013 Visa fraud index showed that fraud accounted for only 0.4% of total purchases in Poland, 1/10th the European average of 4%.