Which country has more cases of card fraud?

Leading international provider of electronic payments software and solution, ACI Worldwide, Wednesday, announced the results of its global card fraud survey, conducted amid 2,400 consumers across 8 countries, Australia, Brazil, China, Dubai, Germany, Singapore, the UK and the USA, during July 2009 . The survey highlights some wide variations in fraud trends around the world.

Thus the research found that almost one in five consumers (18%) responded they have been affected by credit or debit card fraud over the past five years. According to the research, 27% of the US and UK respondents have suffered from card fraud over the past five years, against only 7% in Dubai, 8% in Germany and 15% in Australia, China and Singapore. 

It was also found that if an individual or someone they knew was hit by card fraud, 22% would change financial institutions, and a further 27% would consider changing financial institutions. Concerning the customers’ attitude to card fraud, around 20% of the respondents said they are not confident their financial institution can protect them, with this number rising to over 30% in China.

About half of inquired said that they would change banks, or at least consider it, if they or someone they knew affected by card fraud. In Dubai, Brazil and Singapore about 30% of consumers would do that, while the UK and US respondents appear more tolerant.