Risks inherent in payment systems: Fraud in the world of bank cards
<b>Importance</b> Developing digital technology necessitates protection against cyber fraud. The article addresses relevant risks arising for both cardholders and banks. <br></br> <b>Objectives</b> The aim is to consider major risks inherent in payment systems on the case of fraudulent schemes with bank cards. <br></br> <b>Methods</b> The study draws on functional-structural and systems approaches, methods of scientific abstraction, economic-statistical and comparative analysis, financial analysis, expert evaluation, logical and graphical techniques. <br></br> <b>Results</b> The study unveils and describes major fraudulent schemes with bank cards, analyzes trends in issued bank cards for recent 5 years and outlines a tendency towards bank card settlements. Based on the findings, I distinguish methods of protection against the said fraud and describe alleged criminals committing this type of cybercrimes. <br></br> <b>Conclusions</b> <b>and</b> <b>Relevance</b> Bank card settlements are becoming more widespread. However, there are instances when bank cards are used for fraudulent activities. Monitoring the fraudulent schemes of cybercrimes enabled to describe the offender in these forms of fraud.