EMV cards are responsible for just 7 percent of all transactions in the U.S. But the spike in online fraud is a sign chip-and-PIN cards are working as intended. Domestic-based interactions became 79 percent riskier in Q4 2016, according to the Forter/MRC Fraud Attack Index. Account takeover fraud rose 61 percent and cost $2.3 billion last year. Companies must adapt to identity-based attacks and adapt their security approach, experts say. The law of criminal conservation means companies must shift their efforts and adapt.”]
Source: https://securityintelligence.com/news/online-fraud-and-emv-conservation-of-criminality/