Back in 2002, the fraud losses related to eCommerce fraud on UK-issued debt and credit cards amounted to 28 million pounds. Decades later, that number continues to skyrocket, with the annual losses hitting 376.5 million pounds as of 2020.

https://www.finextra.com/blogposting/23292/how-to-reduce-online-payment-fraud-without-adding-too-much-friction