Fraud in non-cash means
of payment
There is a growing
involvement of trans-national organised crime in payment fraud,
being able in most cases to circumvent countermeasures. Not only is
this a threat for the European economy and the payments systems, but
also for society as a whole. While statistics on total fraud are not
available, estimates in relation to card fraud in the EU were
between €500 and €1000 Million, and it is not necessarily
decreasing. More worrying, payment fraud is increasingly taking a
trans-national nature.
The adoption of sound
preventive measures in relation to fraud in non-cash means of
payment is of paramount importance for the creation of a EU Single
Payment Area with efficient and secure payment means and systems,
for maintaining the confidence of users in payment systems and for
reducing the level of organised criminal activity in this field.
While non-cash means of
payment also include credit transfers, traditional direct debits and
cheques, the fraud prevention efforts at European level have
traditionally been on card fraud, which is less national in
character. However, new problems arise, in particular in relation to
new technologies such as e-payments and mobile payments. The most
important new challenges relate in particular to the identity
theft/fraud problem and its consequences for payments, and to the
use of high technology for payment fraud, such as data hacking,
phishing and other scam phenomena.
Pro memoria, concerning
cash fraud, the Council adopted in 2001 a regulation laying down
measures necessary for the protection of the euro against
counterfeiting. The European Central Bank has an important role in
this regard. In addition, Member States have established National
Central Offices for the protection against counterfeiting and
designated bodies responsible for the technical analysis of
counterfeits. They have also introduced legislation obliging credit
institutions to withdraw from circulation and hand over counterfeits
to competent authorities. |
