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Article: Debit, Credit Card Fraud Reach Record High in Britain in 2001.
- Article from:
- Daily Mail (London)
- Article date:
- March 27, 2002
CopyrightCOPYRIGHT 2002 Daily Mail. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Liz Phillips
Mar. 27--Counterfeit credit card and debit card fraud reached a record high of UKpound 160 million last year -- 50 percent up on 2000.
Criminals are getting away with a staggering UKpound 400,000 a day through counterfeiting cards. This is now the most common form of card fraud, and is known as "skimming."
Fraudsters make more on skimmed cards than stolen ones, because the victim still has the card and does not realise his account is being raided.
On average, crooks spend UKpound 1,600 on each card they copy, and daily lift the information from 200 cards. Skimming accounts for 40 pc of fraud losses on cards, which ...