Financial Crime World

CREDIT CARD FRAUD STATISTICS AND TRENDS IN CAMBODIA: MARKET OUTLOOK AND INSIGHTS

Overview

The Cambodian cards and payments market has witnessed significant growth in recent years, driven by increasing financial inclusion, digitalization, and government initiatives to promote electronic payments. According to a recent report, the market size of Cambodia’s cards and payments sector is estimated at $6.4 billion in 2021, with a Compound Annual Growth Rate (CAGR) of over 20% during 2022-2026.

Rising Concerns Over Credit Card Fraud

Despite the growth of the cards and payments market, credit card fraud has become a major concern for banks, financial institutions, and consumers in Cambodia. The increasing use of digital payment methods, such as contactless transactions and mobile wallets, has created new vulnerabilities that cybercriminals are exploiting.

Statistics on Credit Card Fraud in Cambodia

  • In 2020, the total value of credit card transactions in Cambodia was estimated at $3.2 billion.
  • The number of credit cards in circulation in Cambodia increased by 20% year-on-year to reach 1.5 million in 2020.
  • According to a survey conducted by the Cambodian Bankers Association (CBA), 62% of respondents reported experiencing some form of credit card fraud in 2020.
  • The adoption of contactless transactions and mobile wallets is driving growth in credit card usage, but also increasing the risk of fraud.
  • Online shopping and e-commerce are becoming increasingly popular in Cambodia, creating new opportunities for cybercriminals to exploit.
  • The rise of digital payment methods has created a complex ecosystem that requires collaboration between banks, financial institutions, and technology providers to combat credit card fraud.

Competitive Landscape

The Cambodian cards and payments market is dominated by several major players, including:

  • ACLEDA Bank
  • Advanced Bank of Asia
  • Sathapana Bank Plc
  • Canadia Bank
  • Cambodia Post Bank
  • Hattha Bank Plc
  • Maybank
  • Cambodian Public Bank
  • J Trust Royal Bank

These banks are investing heavily in digital infrastructure and security measures to protect their customers from credit card fraud.

Reasons to Buy

This report provides a comprehensive analysis of the Cambodian cards and payments market, including:

  • Market size and growth prospects
  • Credit card fraud statistics and trends
  • Key players and competitive landscape
  • Digital payment methods and e-commerce growth
  • Collaboration between banks, financial institutions, and technology providers to combat credit card fraud

By understanding the current market dynamics and trends in Cambodia’s cards and payments sector, businesses can make informed decisions about investments, marketing strategies, and security measures to stay ahead of the competition.