@BrianRoemmele even so, the paper basically says that the fraud moves to easier targets, of which the US currently is one.
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@tmiw Not quite it points to a reality that US retail fraud was and is low. It was never 0.14 like the UK. The UK is now closer to the US. - 3 more replies
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@BrianRoemmele hmmm, what do you feel was the biggest reason for why it didn't work stateside? -
@YS Youssef, great question! The UK was nearly 99% offline auth. Thus they had a huge fraud rate the US is 99% online auth lower fraud rate.
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@BrianRoemmele IIRC UK is now 100% online except for contactless. Also, a lot of European cards auto-decline/no longer have magstripes. -
@tmiw Exactly, however the fraud rate drop that is cited is a false comparison to the US as per the Federal Reserve.
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