EMV Card Fraud: Can Your Fraud Detection System Identify Suspect Chip Card Transactions?

While EMV (chip) cards offer increased security and significant reduction of fraud, chip-and-PIN technology cannot eliminate EMV card fraud entirely. As an EMV card issuer, you must test your fraud detection system to ensure that when suspicious chip card transactions occur, they are promptly identified.

While EMV (chip) cards offer increased security and significant reduction of fraud, chip-and-PIN technology cannot eliminate EMV card fraud entirely. As an EMV card issuer, you must test your fraud detection system to ensure that when suspicious chip card transactions occur, they are promptly identified. What methods can your fraud detection system use to identify some of the most common EMV card fraud scenarios? This article presents a sampling of these scenarios and illustrates how pre-production testing of your fraud detection system can reduce your risk of certain types of EMV card fraud.

This article presents a sampling of these scenarios and illustrates how pre-production testing of your fraud detection system can reduce your risk of certain types of EMV card fraud.

• Track the number of invalid Authorization Request Cryptograms (ARQCs)
• Track the number of fall-back transactions from the EMV card
• Track the number of times the EMV card sends a 'PIN tries exceeded' notification
• Monitor multiple EMV card transactions from diverse geographies
• Identify inconsistent tag values in EMV card transactions

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