Internet scams dominate UK card fraud losses

Wednesday, 14 March 2007, 2:12 PM EST

Card fraud in the UK fell three per cent from £439.4m in 2005 to £428m last year, according to figures from payment association APACS released Wednesday.

Overall, card fraud has dropped £80m from a record high of £504.8m in 2004. The decrease in overall fraud, attributed to the introduction of Chip and PIN transaction authorisation, disguises a rise in internet banking and e-commerce fraud.

At The Register.

[ Read more ]




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