Over 12 million fraudulent payments conducted via VISA Europe!

European division of VISA in 2011, there were more than 12 million fraudulent transactions for hundreds of millions of euros, said the manager of the Baltic VISA Europe Linus Olofsson.

After a European division of VISA in 2011, there were more than 12 million fraudulent transactions for hundreds of millions of euros, said the manager of the Baltic VISA Europe Linus Olofsson.

At a conference on e-commerce eCom21 in Riga, Latvia, he said that only 0.043% of all transactions in Europe, committed with the use of VISA in 2011 were fraudulent. According to him, only in 2011 was carried out more than 29 billion transactions. “As a percentage of the amount of fraud using VISA for the year was down, but we are talking about hundreds of millions of euros”, – said Olofsson. In 2011, through the VISA Europe was held to 1.2 trillion euros.
And, according to Olofsson, most fraudulent transactions are made in the area of ​​electronic commerce.
According to the Executive Director of the payment system RuRu Vadim Rumyantsev, mobile commerce market is growing rapidly, and with it grows and activity of cybercriminals. “The proportion of fraudulent transactions in relation to the total volume of transactions is reduced, and only because of the rapid growth of the market in absolute terms the number of fraudulent transactions is growing every year,” – he said.

Technical Director of the payment system Assist Kurnakov Denis says that the number of fraudulent transactions on the Internet is growing annually at 20%. The most common frauds attack online shops. At the same time, he said, the fight against fraud in the global network – at the expense of more complex verification procedures – often leads to a decrease in demand for Internet services.

Visa Inc. – International payment system. Founded in 1970 in the United States. Visa cards are accepted in more than 200 outlets around the world. Today in the world issued more than two billion cards Visa, which accepted about 20 million different institutions.VISA Europe Ltd. registered in 2004. Independent of Visa Inc. Owners and operators of Visa Europe are more than 3,700 European banks.

MOSCOW, Dec 16 – Digit.ru, Oleg Hsinchu

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