Where CNP Fraud Is Heading Credit card fraudsters are nothing if not predictable, as they always migrate to the path of least resistance. With EMV protecting in-store transactions, online fraud can be expected to expand rapidly. CNP fraud in the U.S. is expected to grow from $4.0 billion in 2016 to $7.2 billion in 2020* Online commerce accounts for 8.5% of total U.S. transaction volume—but 49% of fraud** 2016 2020 $7.2 B $4.0 B 8.5% 49% U.S. eCommerce Transactions U.S. Credit Card Fraud * Aite Group, EMV: Issuance Trajectory and Impact on Account Takeover and CNP, May 2016 ** Javelin Strategy & Research: Fixing CNP Fraud, October 2014