| |
Credit Cards -
Card fraud up by a quarter - 12/03/2008
|
|
| |
| |
Thousands of shoppers had their credit and debit cards cloned last year leading to a record 25 per cent rise in fraud, new figures show.
According to the Association of Payment Clearing Services (Apacs), despite the introduction of chip and pin, the amount of money lost to card fraud reached £535.2 million during 2007.
The rise has been driven by a 77 per cent hike in fraud carried out abroad using cloned versions of cards belonging to British concumers and bugging devices used on till terminals to copy cards' magnetic stripe data and pin codes.
Card fraud perpetrated overseas rose to £207.6 million last year - 39 per cent of total losses, while fraud by means of using stolen card details to buy goods by mail order and over the phone and internet rose by 37 per cent to £290.5 million last year.
"As more countries follow our lead and upgrade to chip and pin, the opportunities for criminals to use our stolen magnetic stripe details overseas will decrease," said Sandra Quinn, director of communications at Apacs.
|
|
|
|
|
| |
|
|
|
| |
| |
|
|
| |
|
|
| |
|
|
|
|
Credit Card
Guides |
|
|
|
|