International credit card fraud doubles

Fri, 05 Oct 2007

New security measures have driven credit card criminals out of the country, meaning a doubling of overseas credit card fraud . Over the course of the first half of the year, card fraud abroad increased twofold.

The figures related to UK-issued debit and credit cards . They leapt by some 126% over the first half of the year to a grand total of almost £110 million. The figures were reported by the payments group APACS.

Domestic credit card fraud, hampered by tightened security measures in the form of chip and pin, dropped. Counterfeit and stolen cards in the UK have now become much harder for criminals to use, meaning many are heading overseas. There, thieves employ numerous techniques to render the cards useable.
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