Plastic fraud at a record high:
Fraud on credit and debit cards rose by a quarter last year to reach a record high despite the introduction of the "chip and pin" security system.
The cost of fraud on cards issued in Britain totalled £535.2 million during 2007, with losses rising for the first time since 2004, according to the payments body Apacs...
[There was] a six per cent increase in card fraud losses in Britain, which was largely driven by fraudsters using stolen details to make purchases over the telephone or internet, or by mail order. (The Telegraph)
Proof that any security system created by man can be broken by man.The cost of fraud on cards issued in Britain totalled £535.2 million during 2007, with losses rising for the first time since 2004, according to the payments body Apacs...
[There was] a six per cent increase in card fraud losses in Britain, which was largely driven by fraudsters using stolen details to make purchases over the telephone or internet, or by mail order. (The Telegraph)
