The European Central Bank (ECB) has published its first report on card fraud. The report was compiled by the Eurosystem, i.e. the ECB and the 17 national central banks of the euro area. Its main findings are that card fraud has been on a declining trend since 2007, and that technological advances have been key to increasing the security of transactions. Nothing new there then, but it is good to get further evidence that EMV is working and that steps now need to be taken to prevent losses from payment fraud acquired outside the single euro payments area (SEPA). SEPA comprises 32 countries and 458 million citizens in Europe.
