Wednesday, 9 March 2011

Fraud losses drop on UK cards, cheques and online banking

The UK Cards Association has just released figures that show that Card Fraud losses are at the lowest level since 2000 - a total of £365.4 million was lost in 2010, down from an all time high of £610 million in 2008.  The DCPCU (a special UK police unit funded by the Banks) reminds customers to keep on their guard......

£365.4 million is still an awful lot of money, but it is good to see the loss figure dropping.

With regard to losses at ATMs there was a 9% fall from £36.7 million reported in 2009, to £33.2 million in 2010.  This is a 46% fall from a highpoint of £62 million reported in 2006 as can be seen in the table below.

This table has been extracted from the press release put out by the UK Cards Association.  To get all the available information, including cheque and online banking fraud losses, you can see the press release on the website of the UK Cards Association.

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