Card fraud down 19% in 2009 as screening increases

ANG has installed an automatic financial management system to remove input errors and time-consuming processes. (Getty)

Fraud at non-store retailers shows first ever year-on-year drop.

Non-store retail fraud dropped 19% in 2009 as more retailers and banks introduce screening detection tools.

The figures from the UK Cards Association show that phone, internet and mail order fraud fell 19% to £266.4 million in 2009 from £328.4 million in 2008. This is the first time that non-store retail fraud has shown a year-on-year decrease.

David Cooper, chairman of fraud prevention group Fraud Control Steering Group, said: “Reasons behind the decrease in this type of fraud include the increasing use of sophisticated fraud screening detection tools by retailers and banks, as well as the continuing growth in the use of MasterCard SecureCode and Verified by Visa, by both online retailers and cardholders.”

Story continues below
Advertisement

Authors

*

Related posts

Top