Trends in Smartcard Scam: Lost and Stolen Fraud
Susan Burns, George R.
S.
Weir, Department of Computer and Information Sciences, University
of Strathclyde, Glasgow G1 1XH, UK
A recent report from the European Security Transport Association (ESTA) found...
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Trends in Smartcard Scam: Lost and Stolen Fraud
Susan Burns, George R.
S.
Weir, Department of Computer and Information Sciences, University
of Strathclyde, Glasgow G1 1XH, UK
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
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