Financial Services > Credit Cards > Credit Cards News

Credit and debit card fraud soars

Thu, 02 Oct 2008

According to a report by the payment services association in the UK, Apacs, credit card and debit card fraud has soared by 14 per cent in the last six months running up to June 2008.

The report indicates that total losses of £302 million were up considerably on losses of £264 million from the same period last year. Much of the card fraud, some 40 per cent, was committed overseas.

The type of credit cards fraud varied, with some conducted by phone, mail order and the Internet . Online banking fraud soared by 185 per cent year on year. Fraud trends such as phishing hooked many credit card customers, as did cash machine fraud. Cloning of credit cards was also found to be one of the most popular forms of fraud .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Credit Crunch Savers
Simply Dental Plan
Get covered from £7.70 per month
Income Protection Insurance
Get an instant quote with the award winning company
Amex Cash Back
Credit Card
Get 5% cash back on purchases with Amex