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London identity theft rates three times higher
London is the country’s identity theft capital, with significantly higher rates than anywhere else in the UK. The statistics are based on the number of fraudulent applications across financial products including: current accounts, loans, mortgages, savings accounts, insurance, automotive and credit cards. The 2014 figures, which focus for the first time on how fraud is [...]
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Card fraud increases as stolen cards used once every 20 seconds
British businesses were hit by card fraud once every 20 seconds in March, with Worldpay warning that small businesses are likely to have been hackers’ biggest targets. Worldpay saw over 133,000 fraudulent transactions worth £10 million reported in March alone, leaving businesses out of pocket as fraudsters purchased goods and services using stolen card details. [...]
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Cybercrime bigger than drug trade
In an extraordinary presentation at a TechUK event Adrian Leppard, the City of London police commissioner attacked the big banks by saying that cybercrime may now be bigger than the drug trade, and the police do not have enough resources to tackle it. Leppard claimed that 80% of cybercrimes go unreported and of the 20% which do, [...]
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Card Fraud Report 2015 – now available
Card Fraud is the driver of major industry initiatives such as EMV implementation to combat the use of lost, stolen and counterfeit cards, while 3D-Secure authentication protects against the fraudulent use of stolen card details online. But what is the scale of card fraud losses in selected European countries, Canada and the USA and how does [...]
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Online fraud – an unrelenting, unforgiving battleground…
The recent release of the annual UK fraud figures describes an interesting picture of some successes and some areas for continued concern and renewed action. First, the headline successes. Fraud conducted in the face-to-face retail environment continues to show a healthy decline trend (down 14% on the previous year) with card ID theft (down 19%) [...]
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