European fraud experts say less sophisticated attacks are far more common and pose a greater fraud risk. Social engineering schemes and other low-tech attacks are leading causes of fraud in Europe. Breach of personal and financial data is more prevalent in Europe than it is in the U.S., even though fewer European breaches make headlines. Data breach notification and disclosure laws in Europe are more lax than those in the States, says Jeremy King, the PCI Security Standards Council’s international director. King predicts European businesses and banking institutions will be in for a rude awakening as new regulations take effect.”]
Source: https://www.cuinfosecurity.com/blogs/low-tech-fraud-growing-risk-p-1964