Several years ago, the UK led the way in cutting fraud for cardholder present transactions by introducing EMV which many of you will know as "Chip and Pin". After phasing out the swiping of cards with customers signing for transactions and requiring people to use their PIN to confirm a transaction, fraud was cut overnight. Sadly it wasn't a total success as although we stopped fraud over in the UK, fraud of UK cards moved abroad. This is because outside the UK, not all countries have rolled out EMV even to this day. On the plus side, as these countries roll out EMV, we will become even more protected.

Separately, in cardholder not present transactions, for many years now, we have been trying to combat both credit / debit card fraud (both online and over the phone transactions) and online banking fraud.