The European Central Bank estimates Europe suffers from €1.3 Billion[1] in online card fraud each year. That’s why the Payment Services Directive 2 (PSD2) and the Regulatory Technical Standards (RTS) mandate what is known as Strong Customer Authentication (SCA).

https://www.finextra.com/pressarticle/79617/amadeus-and-visas-cybersource-join-forces-to-tackle-fraud-and-friction-in-travel