Online banking fraud dramatically jumps in UK

Thursday, 9 November 2006, 12:00 AM EST

U.K. banks reported a 55 percent increase in losses from fraudulent online transactions for the first half of the year, mostly from phishing scams, an industry trade group reported Tuesday.

Losses totaled $42.8 million, up from $27.6 million from the first six months of 2005, according to the Association for Payment Clearing Services (APACS).

At Computerworld.

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