Online banking fraud rises sharply

Wednesday, 14 March 2007, 2:57 PM EST

Online banking fraud losses have increased 44 per cent from £23.2m in 2005 to £33.5m in 2006 according to figures released by banking body Apacs today.

Total card fraud losses fell by three per cent in the past year to £428m a decrease of nearly £80m over the past two years. This fall has been driven by a 13 per cent decrease in UK domestic fraud and the combined reduction of more than £45m in mail non-receipt and lost and stolen fraud.

At vnunet.

[ Read more ]




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