In the same period, FICO reported an increase in the number of ATMs and point-of-sale devices (+21%) in the US.
One year ago, FICO reported a 30 percent increase in compromised devices for 2016, compared to 2015, and a 70 percent rise in cards compromised for that period. These figures are related to payment card fraud occurring at physical devices, not online card fraud.
FICO’s Card Alert Service monitors hundreds of thousands of ATMs and card readers in the US it confirms the rate of fraud pattern changes has accelerated in the last 24 months.
FICO helps financial institutions in identifying fraud patterns and trends and take necessary actions to halt card fraud.
“The rate of fraud pattern changes has accelerated in the last 24 months, requiring us to continuously adapt our predictive analytics to stay on top of this criminal behavior,” said TJ Horan, vice president and heads of FICO’s fraud solutions. “We have introduced new AI technology into our FICO Falcon Fraud Manager platform, which protects most of the payment cards in the U.S.”
Below the list of recommendations provided by FICO:
(Security Affairs – FICO, card compromised)