A new approach to limiting the burgeoning losses from card not present fraud is being developed though industry consultation, led by the Australian Payments Network.AusPayNet chief executive officer, Leila Fourie, said the success of EMV (or chip and PIN) technology in preventing "in-person" card fraud meant that criminal activity was migrating to online payment channels."This is the trend internationally, and the Australian industry has mobilised to ramp up the uptake of prevention measures," Fourie said."With fraud values in other areas of card payments either flat or falling, attention is now focused squarely on online fraud."The 2017 card fraud data report, released today by AusPayNet, explained that, following on from an Accelerator event in February 2018, held in cooperation with the Reserve Bank of Australia, the industry body has developed its own CNP Fraud Mitigation Framework for further consultation.Fourie said this set of rules was the result of "collaboration among the entire range of stakeholders in online payments." AusPayNet's aim is to develop and progressively implement the new framework from late 2018.Key elements of the CNP Fraud Mitigation Framework include:•    targets for card issuers to reduce CNP fraud across their card base;•    requiring merchants who record fraud above an agreed industry benchmark to use multi-factor authentication, except for exempt (low-risk) transactions;•    boosting the use of tokenisation and stricter enforcement of card-security standards (PCI DSS);•    encouraging use of biometrics in authenticating CNP transactions; and•    Use of the Australian Financial Crimes Exchange to share financial and cybercrime data.