Results 1 to 2 of 2

Thread: Card fraud grows online

  1. #1
    Join Date
    Oct 2003

    Post Card fraud grows online

    The following article was published this morning. Although card fraud online is growing, ID Theft is falling.

    Card fraud grows online

    But ID theft falls...
    By John Oates
    Published Tuesday 8th November 2005 10:35 GMT

    Fraudulent use of credit cards online is increasing because Chip and PIN technology makes other forms of fraud more difficult.

    The six-monthly survey from Apacs, the UK payments association, found that card-not-present fraud, which covers internet, mail order and telephone scams jumped nearly a third compared to the same period last year.

    In the period January to June 2004 card-not-present scams netted fraudsters 70.2m but in the first half of this year losses grew to 90.6m. The internet part of this fraud grew five per cent to 58m.

    But despite the growth in card-not-present frauds total card losses fell 13 per cent to 219.4m. ID theft on card accounts fell 16 per cent from 19.1m to 16.1m.

    Apacs also carried out research into consumer attitudes to security and found one in four online shoppers not checking whether sites are secure or not. Almost half of women and half of 16 to 24 year olds do not know what 'phishing' is. Apacs is starting a marketing campaign to show punters how to protect their cards.

    A spokeswoman at Apacs, said: "The latest online fraud losses are comparatively low considering the huge number of transactions now being carried out online and it is clear that fraudsters are having more success targeting cards than online bank accounts - so our campaign is focused on cardholders."

    Apacs will publicise its top ten tips including: keep details safe in the real world - because that's where most internet fraudsters get them from - check your browser is up-to-date with security patches and only use secure websites.

    Tickbox carried out the research for Apacs and spoke to 2,104 online shoppers.
    Card fraud grows online

  2. #2
    Senior Member RoadClosed's Avatar
    Join Date
    Jun 2003
    Multiple authentication methods are coming to the US of A. Meaning double authentication, not just a password. Something like A password and USB token. Not real happy about it but watch for it....
    West of House
    You are standing in an open field west of a white house, with a boarded front door.
    There is a small mailbox here.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts