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Monday, 08 September 2008
     
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Keep your card safe

Be aware!

However the high number of cards that were sent out led to an increase of 62 per cent in the number of cards stolen in the post, before reaching their holders. This contributed to an overall loss of ₤72.9million credit fraud.
Contributing to almost half of credit losses were cards which were either counterfeited, lost or stolen. In a press release, APACS expressed confidence that credit fraud in these areas could be cut down; ‘With chip-and-PIN now almost fully implemented, it is likely to have a major impact in these two areas’. APACS also commented that the unusually high number of credit cards which were stolen could be linked to the high numbers of credit cards distributed to customers in the preliminary phase of the chip-and-PIN implementation.


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