AugustOne - the only Microsoft PR agency that chats to the INQ
|
|
|
UK fraud drops as banks and customers fight back
FINANCIAL LOSSES due to bank card fraud are falling, showing that technology barriers put in place by banks are actually making a difference.
The rare piece of good news said that fraud losses on UK bank cards, cheques and online banking all fell in 2010 compared with 2009. Fraud losses on UK credit and debit cards fell by 17 per cent and in online banking 22 per cent compared with losses in 2009. The £365.4 million lost on UK bank cards in 2010 was the lowest total since 2000. The all-time high was £610m in 2008.
Many factors can be attributed to the falling figures. People are much more aware of problems these days, using more common sense by sticking anti-virus software on their PCs and making sure that they keep their PIN numbers safe.
We've also seen banks and retailers make a decent enough effort of putting in place ways to keep fraudsters away, such Mastercard Securecode, Verified by Visa, upgrading of chips on UK cards and the rollout of chip and PIN in foreign countries.
Detective Chief Inspector Paul Barnard, head of the Dedicated Cheque and Plastic Crime Unit (DCPCU) said that while the drop in fraud is obviously a good thing, it's not the time to get complacent.
But if the worst happens, it's better to be in the UK than in some other places, apparently.
"Fortunately in the UK - unlike some other countries - innocent victims of any type of payment fraud on their debit or credit card or account are protected and should not suffer any financial loss," he said. µ
Share this:
Share
Kind of ironic since banks are being run by fraudsters anyway.
Bollocks more like!
Only ever got one password to stick to one of my cards. The others have to be reset every time I use them. All they ask is your date of birth to reset the password!!!
Its a terrible system. If you call the VBV helpdesk (in India of course) for help with your passwords, they cancel your card instead!
you forget to mention the tax fraud all the uk banks are undertaking via the Cayman Islands !
I was going to post that too, people cutting back on spending online and in shops, restaurants, foreign travel. So basically less opportunities for card details to be cloned or copied.
But like most corporate nonesense, they will use whatever looks good for them and twist it to their advantage. Not a word from them when things are working against them though, they won't comment on their 'poor technology' as the reason for theft.
Could this also be an effect of a shrinking economy rather than effective technology