Thursday, May 20, 2010

Credit Card Fraud Escalates -- 40% increase in UK


May 19, 2010. London Times reported... "The number of victims of the “hidden crime” of card fraud has leapt by 40 per cent in a year to more than 2.4 million people. Credit and debit card fraud, which cost the banks £440 million last year, is rising fast at a time when figures for other types of crime indicate that the feared recession crimewave has failed to materialize. The number of victims is not included in the annual British Crime Survey, however, disguising the full extent of property crime in England and Wales. People are three times more likely to fall victim to plastic card fraud than have their homes burgled. A total of 6.4 per cent of card owners were the victims of fraud in 2008-09 compared with 4.7 per cent the previous year. However, the extent of card crime is hidden because the crime survey gives only percentages rather than the precise number of victims."