The CNP Fraud Cliff standard
It seems like we’ve heard the word “cliff” overused recently to describe a number of doom and gloom situations from an HBR article describing Novartis’s “Patent Cliff” to the impending “Fiscal Cliff” here in the US. Well, since cliff talk sounds like fun (and includes other fun words like crag, precipice, and aerie), I thought I’d discuss another impending cliff here in the US that is only a few years away. This cliff shows up as a direct result of the deployment of EMV, and we’ve seen it in many other locales. It’s the Card-Not-Present (CNP) fraud cliff. Earlier this year, King (2012) released a compilation of information discussing Chip and PIN’s impact to fraud in a number of global ...
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