Feeds

Red alert over London on credit card fraud map

London's burning

Website security in corporate America

London is the UK capital of credit card fraud, according to a study by online fraud prevention firm Early Warning.

Early Warning's latest figures for Cardholder Not Present (CNP) fraud show that Greater London clocked up largest number of fraudulent transactions in the past year, followed by Manchester and Kilmarnock.

Early Warning has produced a map (PDF) that identifies the postcode areas from which the fraudsters operate, put together by tracking the delivery addresses for fraudulently obtained goods – typically accommodation addresses and "dead letter boxes".

It reckons the technique represents the only reliable method for mapping credit card fraud. The areas with the biggest fraud problems are the Central London postcodes, together with Romford and Ilford in Essex, and Twickenham in Middlesex.

Outside the capital, cities and towns where CNP fraud is on the increase include Bournemouth, Northampton, Portsmouth, and Stockport.

Nationwide, CNP fraud last year cost £183.2m, according to figures from banking organisation APACS. Stats from Early Warning say CNP fraud has shot up by 38 per cent in the past 12 months.

Using Early Warning's CardAware fraud detection systems, retailers and other online traders can check credit card orders against a database of known frauds. The firm has added a postcode-based risk assessment tool. It reports that the geographical spread of CNP fraud changes rapidly.

"Some postcode areas both inside and outside the Capital that last year recorded only negligible numbers of frauds are now reporting 'low' or 'medium' numbers," said Andrew Goodwill, managing director of Early Warning. "No single area of the UK is untouched by this problem."

The introduction of Chip and PIN systems on credit and debit cards in the UK to validate purchases as an alternative to signatures has pushed fraud onto the internet, Goodwill added. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
Home Depot: 56 million bank cards pwned by malware in our tills
That's about 50 per cent bigger than the Target tills mega-hack
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
UK.gov lobs another fistful of change at SME infosec nightmares
Senior Lib Dem in 'trying to be relevant' shocker. It's only taxpayers' money, after all
Critical Adobe Reader and Acrobat patches FINALLY make it out
Eight vulns healed, including XSS and DoS paths
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Blood-crazed Microsoft axes Trustworthy Computing Group
Security be not a dirty word, me Satya. But crevice, bigod...
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.