University of Strathclyde and Associates Types of Card Fraud Scam
A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the
adult population in Great Britain has been targeted as part of a credit or debit card...
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University of Strathclyde and Associates Types of Card Fraud Scam
A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the
adult population in Great Britain has been targeted as part of a credit or debit card scam.
As a result, the
UK has been termed the ‘Card Fraud Capital of Europe’ [1], with UK citizens twice as likely to become
victims of card fraud as other Europeans.
Plastic card fraud is a lucrative exploit for criminals and the
proceeds may be used to fund organised crime.
Smart payment cards (Chip and PIN cards) were
introduced in the UK to replace magnetic stripe cards and support PIN verification of card transactions.
By the end of 2005, more than 107 million of the 141.
6 million cards in the UK had been upgraded to
smart cards [2].
Levels of plastic card fraud fell by 13% to £439.
4 million in 2005 [3] and again to £428
million in 2006 (Figure 1).
The reduction has been widely attributed to the rollout of smart cards with
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