Journal Article
Payment Card Fraud Rates in the United States Relative to Other Countries since Migrating to Chip Cards
Hayashi, Fumiko (2019-10)
The United States has lagged somewhat behind other countries in implementing steps to mitigate payment card fraud, such as chip card technology and personal identification numbers. Small delays in implementing fraud mitigation strategies could translate to large fraud losses relative to other countries. Although comparing fraud rates across countries can be challenging, Fumiko Hayashi examines payment card fraud rates in the United States along with three countries with the best available data?Australia, France, and the United Kingdom?and finds that the United States has the highest overall ...
Economic Review , Volume v.104, no.4 , Issue Q IV , Pages 23-40

Briefing
New Data on Card-Present and Card-Not-Present Fraud Rates in the United States
Hayashi, Fumiko (2026-02-25)
Recently updated data show that the card-present fraud rate of non-prepaid debit cards increased for transactions on single-message networks from 2021 to 2023 but decreased for dual-message networks—reversing a previous trend. The card-not-present fraud rate for both types of networks continued its upward trend. Cardholders’ fraud loss rates also continued to increase for both card-present and card-not-present transactions on both types of networks.
Payments System Research Briefing