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Credit card 'facility takeover' fraud increases

04 February 2010 08:43:58

Figures show rise in credit card hijacking fraud. image
Figures show rise in credit card hijacking fraud.
Criminals are increasingly engaging in 'misuse of facility frauds', it has been claimed.

According to a report from CIFAS, the UK's Fraud Prevention Service, last year saw a 9% increase in the overall level of fraud.

Describing the rise in misuse of facility frauds - in which a person's credit card details are hijacked and used to evade payments on credit cards - as "relentless", the organisation revealed that this type of fraud increased by 28% in 2009 and by 115% over the past two years.

CIFAS also said there had been a 32% increase in identity fraud over the last 12 months.

Commenting on the findings contained in the 2009 Fraud Trends report, CIFAS communications manager Richard Hurley said that the emotional and psychological effects of fraud "must never be underestimated".

"Fraudsters are adapting their approach in an attempt to ensure that their profits do not suffer during the recession, with absolutely no thought for the profoundly damaging impact this has on their victims," he claimed.

Mr Hurley also observed that criminals have been utilising the internet to trade people's identity details and that the number of victims "demonstrates just how little these criminals care".

Last year, CIFAS published information on credit card crime hotspots, revealing that people in Hertfordshire, London and Surrey were most likely to fall victim to a fraudster remotely hijacking their credit card details.ADNFCR-2196-ID-19596586-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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