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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.
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Publication:Liverpool Echo (Liverpool, England)
Date:Aug 30, 2001
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