Source: National Cyber Security – Produced By Gregory Evans
The card fraud losses dropping 26% from £609.9m in 2008, the time when fraud was at its height, to £450.4m in 2013. The Financial Fraud Action UK (FFA UK) is an organisation which lead the figth against the financial fraud in the UK. Sponsored by the UK Cards Association for its attempts to prevent fraud on credit and debit cards, the FFA UK work undertaken by the industry, over the last decade, in putting in place prevention, detection, and enhanced security measures. And its results of his work has the results of the last report of the organisation ‘Fraud: The Facts 2014”, which showed a fall of the 26 per cent in the card fraud since 2008 in the UK. Increases from 2012 However, fraud losses on UK cards totalled £450.4 million in 2013, a 16 per cent increase from £388.3 million in 2012. This is the second year of increase. Overall, card fraud losses as a proportion of the amount we spend on our cards has increased only slightly during 2013 –from 7.1p in 2012 to 7.4p for every £100 spent (in 2008 it was 12.4p for every £100). The number of transactions rose by over half a billion […]
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