Feeds

Shoppers warned of £110m card not present fraud

Precautionary tale

  • alert
  • submit to reddit

Securing Web Applications Made Simple and Scalable

The UK's shoppers are being warned to be on their guard after it emerged that Internet fraud is contributing to a £110 million a year racket.

Fraud on 'card-not-present' purchases, such as Net shopping and over-the-phone sales, has jumped a third in two years to £109.6 million. This accounts for more than a quarter of the UK's annual losses of £411.6 million to credit card fraud.

According to stats released today by the Association for Payment Clearing Services' (APACS), consumers are putting themselves at risk of the £300,000-a-day fraud because they do not take simple precautions to protect their account details.

For instance, one in three people never shred or burn their receipts when they're finished with them, while one in five let others use their credit cards to make purchases.

The main sectors targeted by 'card-not-present' fraudsters include general and electrical, mail order and technology - all high-value goods that can be sold on by crooks.

Sandra Quinn, APACS spokeswoman: "If you let anyone have sight of your card, statements or receipts, you risk becoming a fraud victim. Internet, mail order, phone and fax transactions can offer a tempting target for card criminals." ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BMW's ConnectedDrive falls over, bosses blame upgrade snafu
Traffic flows up 20% as motorway middle lanes miraculously unclog
Putin: Crack Tor for me and I'll make you a MILLIONAIRE
Russian Interior Ministry offers big pile o' roubles for busting pro-privacy browser
Mozilla fixes CRITICAL security holes in Firefox, urges v31 upgrade
Misc memory hazards 'could be exploited' - and guess what, one's a Javascript vuln
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
How long is too long to wait for a security fix?
Synology finally patches OpenSSL bugs in Trevor's NAS
Don't look, Snowden: Security biz chases Tails with zero-day flaws alert
Exodus vows not to sell secrets of whistleblower's favorite OS
Roll out the welcome mat to hackers and crackers
Security chap pens guide to bug bounty programs that won't fail like Yahoo!'s
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.