| With the use of credit and debit cards | | | | other types of credit card fraud are at their |
| increasing all the time, the issue of card | | | | lowest levels for ten years. |
| fraud is always an important consideration. | | | | |
| Credit card providers and card processors are | | | | The police forces are now taking card fraud |
| now focusing their attentions on providing | | | | very seriously with specialist units looking |
| ever more sophisticated security systems to | | | | at different areas of crime. In response to |
| stay one step ahead of the fraudsters, but | | | | the finance industry's claims that a |
| there will always be an onus on the customer | | | | significant proportion of card fraud was |
| to act in a responsible manner to prevent | | | | carried out by insider sources in forms and |
| fraudulent use of their card. | | | | retailers, greater involvement of the Police |
| | | | has reduced this problem. However |
| In the UK APACS, the Association for Payment | | | | |
| Clearing Services, monitors and reports on | | | | Further information on how to avoid card |
| credit card fraud in a six monthly report and | | | | fraud is provided by the website managed on |
| the statistics show that card fraud had | | | | behalf of the UK banking industry by APACS. |
| reduced by 25 per cent in the two years | | | | |
| following 2004 but 2007 brought a 25 per cent | | | | Here you can read about various approaches |
| increase largely caused by higher levels of | | | | being adopted by the industry to prevent |
| phone, internet and mail order fraud, where | | | | credit card fraud. Information is also |
| the card holder is not present and an even | | | | provided by the different card issuers about |
| bigger increase in counterfeit card fraud, | | | | how customers can protect themselves against |
| where cards are skimmed or cloned. This type | | | | loss due to fraud. The credit card companies |
| of fraud increased by almost 50 per cent and | | | | discuss various types of card transactions |
| made up over a quarter of all card fraud. | | | | and how customers can protect themselves |
| | | | during them. |
| By far the biggest area for concern is card | | | | |
| fraud that takes place abroad. Of the | | | | Card issuers now have sophisticated fraud |
| £535m lost due to card fraud in 2007 | | | | detection systems that can quickly identify |
| nearly 40% of that loss is conducted abroad | | | | any abnormal transactions on your account and |
| using stolen UK credit card details. Although | | | | flag them up to their fraud detection |
| chip and PIN has contributed to the reduction | | | | departments. These "out of character" |
| of fraud in the UK there are many countries | | | | transactions may only be small initially as, |
| yet to implement the technology. The | | | | apparently, the criminals will try out the |
| introduction of the technology to the UK is | | | | card issuers detection systems with a small |
| claimed to have reduced face-to-face | | | | amount before attempting a large hit. |
| fraudulent transactions by two thirds and | | | | |