Friday, 20 March 2009

2008 fraud figures announced by APACS

Source: APACS

The UK payments association, APACS, has announced UK fraud figures for 2008. "The two main areas of fraud were on transactions not protected by chip and PIN: specifically internet, phone and mail order fraud; and fraud abroad - committed by criminals using stolen UK card details in countries yet to upgrade to chip and PIN - which has nearly doubled in two years." "Online banking fraud losses totalled £52.5m in 2008 – a 132 per cent increase from 2007 losses. Although phishing incidents continue to increase, online banking customers are increasingly being targeted by malware..."

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