Card fraud down in 2006

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Card fraud down in 2006

Tue 7th Nov 2006

There has been encouraging news regarding card fraud in the UK as new research shows that instances have fallen five per cent during the first six months of this year compared with the same time period in 2005.

UK payments association Apacs discovered that although the total level of card fraud has decreased in 2006, online banking fraud has risen to £22.5 million from £14.5 million for the corresponding period last year.

The research indicates that cardholders can still do more to protect themselves from fraud on the internet and according to Sandra Quinn, director of corporate communications at Apacs, the emphasis must be placed on keeping personal details secure.

She remarked: "These latest fraud figures show that the industry’s efforts are making their mark. However, each and every one of us can also help defeat the fraudsters and protect our cards and online accounts, by keeping our pins, passwords and personal information safe and secure."

Findings of the research also showed that a quarter of people in the UK had at some point disclosed their pin number to someone else, which heightens the possibility of becoming victim to card fraud.

Apacs presently has 31 members and their payment traffic volume makes up nearly the entire total UK payments market at 97 per cent.

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