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The Payment Card Fraud: Current Realities and Prevention Measures
Kolodiziev O. M., Kotsiuba O. V.

Kolodiziev, Oleh M., and Kotsiuba, Olena V. (2019) “The Payment Card Fraud: Current Realities and Prevention Measures.” Business Inform 3:315–321.
https://doi.org/10.32983/2222-4459-2019-3-315-321

Section: Finance, Money Circulation and Credit

UDC 336.717.11

Abstract:
The active development of payment systems and the advent of electronic money have led to increased demand for the use of payment cards for financial transactions. This helps to reduce the «shadow economy». The article considers the dynamics of volumes of operations with payment cards. Some world countries have this figure approaching 90%. According to the results of the analysis it was defined that the most common transaction with payment cards in Ukraine is cash withdrawal. One of the motives to keep money in cash is a high level of fraud with payment cards. The most common types of crimes connected with payment cards are skimming, trapping, fishing and IVR fraud. In order to change the situation, it is necessary to spread public information about non-disclosure of private financial data, along with strengthening the quality standards of securing the data of the payment cards issued by the national banks in accordance with the PCI DSS requirements.

Keywords: payment card, payment system, payment card fraud.

Fig.: 4. Tabl.: 2. Bibl.: 11.

Kolodiziev Oleh M. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Banking and Financial Services, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]
Kotsiuba Olena V. – Postgraduate Student, Department of Banking, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

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“Statistics on payment, clearing and settlement systems in CPMI countries“. Bank of International Settlements. https://www.bis.org/cpmi/publ/d172.pdf
Ofitsiinyi sait Natsionalnoho banku Ukrainy. https://bank.gov.ua/
Yelchenko, O. “V 2019 godu usilitsya risk perekhvata moshennikami «finansovogo nomera» telefona“ [In 2019, the risk of interception by phone scammers will increase]. https://enovosty.com/news-finance/full/3101-v-2019-godu-usilitsya-risk-perexvata-moshennikami-finansovogo-nomera-telefona-ekspert
“Natsbank rozpoviv pro zbytky vid shakhraistva z platizhnymy kartkamy“ [National Bank told about damages from fraud with payment cards]. https://24tv.ua/natsbank_rozpoviv_pro_zbitkiv_vid_shahraystva_z_platizhnimi_kartkami_n1104240
Kirieieva, K. “Svitovyi dosvid vykorystannia bankivskykh platizhnykh kartok iz chipamy“ [Worldwide experience in using bank credit cards with chips]. Visnyk NBU, no. 8 (2011): 41-44.
Kharchuk, M. V. “Analiz masshtabiv ta osnovni napriamy minimizatsii ryzykiv shakhraistva chleniv mizhnarodnykh platizhnykh system“ [Scale analysis and main directions of minimization of fraud risks of members of international payment systems]. Efektyvna ekonomika. 2013. http://www.economy.nayka.com.ua/?op=1&z=2120
Ofitsiinyi sait PAT «TASKOMBANK». https://tascombank.ua/content/view/259/58/lang,ukrainian/
Bakai, O. V., Brych, T. B., and Lakh, Yu. V. “Tekhnolohii zakhystu bankivskykh mizhnarodnykh platizhnykh kartok“ [Technologies of protection of bank international payment cards]. http://ena.lp.edu.ua/bitstream/ntb/21472/1/34-184-187.pdf
Petrushchak, V. “Plastykovi nebezpeky“ [Plastic Dangers]. http://www.gazeta.lviv.ua/articles/2017/08/21/25702/
[Legal Act of Ukraine] (2001). https://zakon.rada.gov.ua/laws/show/2346-14

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