Printer Friendly

Credit card fraud on increase.

FRAUD on credit and debit cards leapt 55% last year, costing the industry over pounds 290m.

The increase was mainly due to a jump in counterfeiting cards, which more than doubled during 2000, as well as a 94% rise in fraud using stolen credit card details to pay for things over the telephone or internet, according to the Association for Payment Clearing Services.

The industry is tackling the problem by introducing security chips to make cards harder to copy, and by requiring people to give more details when carrying out transactions over the telephone.
COPYRIGHT 2001 MGN Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Liverpool Echo (Liverpool, England)
Date:Aug 30, 2001
Words:94
Previous Article:LET'S LIGHT UP THE SKY.
Next Article:Freshly squeezed Juice FM; Dawn Collinson goes behind the headlines.


Related Articles
Business leaders urge Japan to encourage investment.
New Risk Manager v2.5 now shipping from CyberSource.
New Risk Manager v2.5 now shipping from CyberSource.
Business in brief.
Share tips.
ID theft boosts swelling ranks?of fraud victims.
Credit card fraud cost reaches record pounds 1m; Major rise in crime in town.
High-tech Internet fraudsters have stolen Au3.3B in last one year.
Thief buys car with Gazza's credit card.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters