Card-Not-Present (CNP) fraud is expected to double by 2018 in conjunction with the EMV rollout in the US.
When EMV was adopted in the UK and Australia, POS credit card fraud quickly declined. However, fraudsters migrated to the online channel causing a spike in CNP fraud. The liability for fraud shifts from issuer to merchant beginning in October 2015 with the EMV rollout.. Merchants need to work with a specialistic in order to prepare as soon as possible.
Even without EMV, online fraudsters are growing more sophisticated. Data breaches are becoming commonplace. There is no silver bullet to stop CNP fraud in this environment. Fraud poses a great risk to merchant reputation and bottom line.