Spotlight

US Card Payment Fraud Losses Forecast 2022

Rising Card-Not-Present Fraud Hits Merchants, Issuers, and Consumers

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About This Report
US card fraud losses will remain sky-high despite slowing growth as credit cards and card-not-present fraud drive risk for merchants, issuers, and consumers alike—pushing new technology adoption and consumer education strategies to lower risk.
Table of Contents

Executive Summary

Growth in card fraud losses is slowing annually, but with totals set to reach $13.73 billion by 2024, stakeholders aren’t in the clear: Card-not-present (CNP) fraud will continue to skyrocket as fraudsters see an opportunity online and ramp up attacks to seize it. That means issuers and merchants need to rethink prevention strategies.

Key Question: What impact will rising CNP fraud have across the purchasing chain?

KEY STAT: CNP fraud will make up 74.0% of fraud by 2024—up from 57.0% pre-pandemic in 2019—creating new prevention challenges, especially for merchants, who are more liable than other parties for this type of fraud.

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    Table of Contents

    1. Executive Summary
    2. US Fraud Losses Ripple Across the Purchasing Chain
    3. What’s Driving Growth in Each Category of US Card Fraud Losses
    1. What Fraud Means for Different Providers
    2. A Look at the Long-Term Fraud Landscape
    3. Insider Intelligence Interviews
    1. Read Next
    2. Sources
    3. Media Gallery

    Interviewed for This Report

    PJ Rohall
    SEON
    Head of Fraud Strategy and Education
    Interviewed October 19, 2022

    authors

    Jaime Toplin

    Contributors

    Daniel Decea
    Researcher, Financial Services
    Iwona Drapala
    Senior Forecasting Analyst
    David Morris
    Principal Analyst
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