EMV payment regulations, which mandate the use of chip cards at the point of sale, have been effective in mitigating fraud for in-person Card Present transactions worldwide. Unfortunately, fraudsters have migrated to less protected targets, particularly the Card Not Present (CNP) transactions that dominate e-Commerce. Non-U.S. retailers are particularly vulnerable, according to a study from LexisNexis. Non-U.S. retailers with an e-Commerce operation have the highest fraud-related costs as a percentage of annual revenue, with charges that are 22% higher than U.S. retailers, according to a study from LexisNexis. These merchants’ overall fraud costs are 85% higher than their brick-and-mortar-only counterparts.