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Two-Word Google Searches That Explain Why Fraud is Getting Harder to Stop

posted on: Fri Nov 14 2014

Rich Stuppyby Rich Stuppy

EMV CNP. RAM Scraper. EMVco problems.

In our continuing series on easy search terms that provide insight into the world of fraud we bring you some great information you can get from Google with six words. The idea is there are critical changes taking place that will impact the world of fraud control.

At Kount, we recognize that people may view our advice as potentially self-serving. Our response is, don’t take our word for it, take Google’s. Search on these terms and figure it out for yourself.

  1. EMV CNP (Warning: Dual Three Letter Acronym (TLA); other CNP TLAs are A-OK.)
    • EMV: Precise definition = Europay, MasterCard Visa. The common definition deals with replacing the magnetic strip on a credit card with a computer chip that injects dynamic data into a transaction. The bottom line is EMV means a large set of changes that makes duplicating physical cards much harder.
    • CNP: Card Not Present. The opposite of using a physical card in a transaction.

      The Google results on this search present a few hundred thousand links that say basically this: EMV makes CNP worse. I will add some color by saying EMV makes CNP a lot worse. The reason – fraud will move to the easier channel, online fraud can be automated and online fraud can be scaled up.
  2. RAM Scraper

    At the time of this writing, Googling RAM scraper yields 400,000+ results. The bottom line is these links describe bad programs designed to steal credit card information from point-of-sale (POS) terminals. If you dig deeper you’ll find something both interesting and troubling. EMV won’t stop RAM scrapers from stealing credit cards. So despite the fact that the credit card ecosystem is spending billions of dollars, the primary way of procuring stolen cards won’t be impeded.

    RAM Scrapper Search
  3. EMVco Problems
    EVMco: From their website, EMVCo, LLC, was formed in February 1999 by Europay International, MasterCard International and Visa International to manage, maintain and enhance the EMV™ Specifications for Payment Systems.

    At the time of this writing EMVco Problems returns 28,000+ search results. You’ll have to hunt and peck through the results to find things that are meaningful to you. Here is what is meaningful to us:
    • Nobody knows the problems and complications that will be presented by tokenization.
    • Everybody knows that EMV will push fraud online.