Feeds

Red alert over London on credit card fraud map

London's burning

Security for virtualized datacentres

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
FYI: OS X Yosemite's Spotlight tells Apple EVERYTHING you're looking for
It's on by default – didn't you read the small print?
Microsoft pulls another dodgy patch
Redmond makes a hash of hashing add-on
NOT OK GOOGLE: Android images can conceal code
It's been fixed, but hordes won't have applied the upgrade
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
DEATH by PowerPoint: Microsoft warns of 0-day attack hidden in slides
Might put out patch in update, might chuck it out sooner
'LulzSec leader Aush0k' found to be naughty boy not worthy of jail
15 months home detention leaves egg on feds' faces as they grab for more power
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.