According to the report of the Observatory of the Security of Means of Payment, fraud in means of payment remains stable (-0.6% in volume). But it is increasingly based on manipulation and scams against people.
More payments in 2023, but stable fraudulent transactions. As shown by the figures from the report of the Observatory of the Security of Means of Payment of the Banque de France, scriptural transactions (non-cash payments) continue to increase in 2023. 32.2 billion transactions by companies, administrations and individuals were recorded last year (+5.2%) for an amount in value greater than 34,000 billion euros.
Despite this increase in transactions, fraud – in value or volume – remains stable. In 2023, fraudulent transactions concerned 7.1 million transactions (-0.6% compared to 2022). That is 0.022% of the volume of transactions for a loss valued at 1.195 billion euros (+0.2% compared to 2022).
Check fraud declines, remote card payment fraud increases
What payment methods are preferred by fraudsters? In terms of value, card payments are the most common (38%), driven by remote payments, followed by checks (31%) and bank transfers (26%). In terms of value, check fraud is decreasing (-8%), which goes hand in hand with the decrease in the use of this payment method in general (-13.4%). Check fraud is mainly carried out through the use of lost or stolen checkbooks.
Other good news is the low vulnerability of payments using the 3-D Secure protocol, which are proportionally three times less subject to fraud than payments made without security. Mobile payments are also increasingly less subject to fraud, which demonstrates the effectiveness of the strong authentication process as this means of payment is booming.
Among the weak signals, card payments represent more than 9 out of 10 fraudulent transactions in volume. Remote card payments (by communicating confidential numbers and security codes by telephone or on the internet) are more subject to fraud and are the most vulnerable.
Fraud takes more the form of manipulation and scams
More worryingly, fraud increasingly relies on the manipulation of victims, extracting confidential information from them in order to use it. We can cite in particular the technique known as spoofing, which asks for confidential identifiers by telephone while pretending to be a bank advisor. Or that of fake text messages demanding payment of unpaid fines.
To prevent the resurgence of these increasingly sophisticated techniques, the Observatory has made the fight against identity theft a priority area of work and is now directly involving telephone operators.
Effective mechanisms have been put in place. Fraudsters are thus prevented from usurping the alphanumeric identifier of public services or companies. They are reduced to sending malicious SMS from 06 or 07 numbers. In addition, in October, an additional control mechanism for French landlines will be put in place. It will make it possible to cut off calls deemed non-compliant.
Recommended vigilance measures for individuals
However, to avoid being a victim of fraud, additional vigilance is required from users. According to figures from the SSMI (Ministerial Statistical Service for Internal Security), individuals are much more affected than companies, which only represent 8.7% of victims. More surprisingly, young adults (25-34 years old) are the most represented when complaints are filed for fraud and payment fraud.
So, what basic rules should be applied to protect yourself? For example, it is recommended to never respond to text messages from unknown 06 or 07 numbers demanding payment or indicating a formal notice. Public services or large companies never use this type of number for their mailings.
It is also recommended to never click on the internet links to which these text messages refer. Similarly, never give your login details to your bank advisor who does not need them, as recalled by the vigilance campaign launched last June. Finally, as with other aspects of private life, it is important to be careful about personal information shared on social networks which can be used for manipulation or usurpation purposes.
