EU Action Plan Is Focusing On Card Fraud
Chip card adoption and the migration to EMV in 2002 will not occur as quickly as expected, says Robert Littas, of Visa EU, but more chip programs, cards and terminals will reach the marketplace. In Denmark and the UK, migration "will probably go pretty much on track", LittasEuropay had promoted the need for strong anti-fraud legislation in the UK, Warner said, and the Action Plan "also emphasized the need to tackle card-not-present (CNP) fraud", as Lafferty reports. Most CNP fraud in the EU "is a UK problem", Littas says, and banks had begun rolling out CVV2 or CVC2 (Europay) and AVS, but "it hasn't been implemented as quickly as hoped". In Littas' view, issuers who "felt they were quite happy on the chargeback side", stalled on this, while continental members showed "little appetite for the AVS", but Warner believes the success of AVS in the UK will spread elsewhere in the EU.
