According to analytics released by global decision management services provider FICO, the UKs percentage of European plastic fraud has dropped from 45 in 2006 to 29 in 2011. The same source has indicated that in 2011 card counterfeiting in the UK has reached APS170 million.
The results have pointed out that the decrease in credit and debit card fraud in the last four years is a result of the UKs adoption of security technologies including chip & PIN.
The findings have shown that card losses have remained relatively low since 2006 at a peak of around APS25 million, falling slightly since then. However, data has indicated that fraud levels in the UK have reached extremely high levels in the last decade.
In other European countries such as France and Germany, card not present fraud has continued to rise beyond 2008. Frances CNP number in 2011 was around EUR 160 million (at 2011 exchange rates roughly APS145 million), while Germanys has risen to EUR 80 million (around APS70 million).
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now