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FFA: Cheque and phone banking fraud losses rise
Posted by Patrick White
Even though data for card and online banking fraud losses has been falling, the amount of money stolen through cheque and online banking fraud is rising.
This is according to the Financial Fraud Association, which revealed that in the first half of this year, cheque fraud losses jumped from £14 million during the same time in 2010 to £16.4 million - although the majority of this type of crime is stopped before the money is taken out.
Furthermore, phone banking fraud losses reached £8.6 million between January and June - a 48 per cent increase on last year.
Online banking fraud losses dropped by 32 per cent to £16.9 million, with totals for UK card fraud falling by nine per cent to £169.8 million.
Despite the decrease in some of these crimes, Detective Chief Inspector Paul Barnard, head of the Dedicated Cheque and Plastic Crime Unit (DCPCU) urged consumers to remain on guard.
Persons looking to report cases of payment fraud have been advised by the DCPCU to go straight to their bank or card company.
05/10/2011 11:35
News category: Consumer