Credit card fraud down by over a quarter in 2009
10 March 2010 15:54:30
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| Credit card fraud declined considerably last year. |
The UK Cards Association and Financial Fraud Action UK conducted a study which confirmed that consumers were raided by fraudsters for a combined £440.3m.
This figure, which represents the first annual decline recorded by the two bodies since 2006, compares favourably with the previous year's total of approximately £610m.
"A fall in card fraud is good news for everyone, the UK consumers, retailers and the industry," said Melanie Johnson from the UK Cards Association.
"We recognise that cards will always be targeted by criminals, so we are determined to prevent, detect and deter those who are behind this type of crime."
The study also noted that increasingly advanced chip and pin security systems and fraud detection tools are curbing criminals' attempts to target credit cards.
Earlier this week, former escort girl Daryl Harrison was jailed after being found guilty of illegally racking up a £64,000 bill on the credit card of West Ham footballer Mido.
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