New payment technologies might make card-present theft more difficult for criminals, but a secure payment transaction at point of sale does not diminish the risk of cyber fraud and data theft for the enterprise. The European Central Bank released its fourth report on card fraud in July 2015. The report concluded, CNP fraud went up by 21%, accounting for 66% of all fraud losses on cards Data is still vulnerable because criminals continue to find entry points into the environment. EMV is often misunderstood in terms of what it does, which creates security vulnerabilities, said George Rice, senior director of payments, HPE Security.”]
Source: https://www.csoonline.com/article/3012324/adoption-of-emv-chip-secures-transactions-not-data.html