Feeds

UK plastic fraud losses fall for first time in 3 years

Online banking losses up though

Seven Steps to Software Security

A rise in online banking fraud losses took some of the shine off the overall fall in debit and credit fraud in the UK last year.

Official figures from the UK Cards Association, which represents UK credit and debit card providers, published on Wednesday show that fraud on debit and credit cards fell by 28 per cent in 2009 to £440.3m in total, compared to £610m in 2008.

The decrease in overall card fraud - the first since 2006 - is credited to the effects of Chip and PIN on retail fraud, improved fraud detection tools and law enforcement efforts.

While other forms of fraud dropped online banking losses increased £59.7m in 2009, an increase of 14 per cent on losses of £52.5m during 2008. Increasingly sophisticated malware attacks targeting bank customers and a 19 per cent increase in phishing attacks in 2009 was blamed for the rise.

Advice to consumers on avoiding such attacks can be found here at banksafeonline.

By contrast, fraud abroad which fell by 47 per cent to £122.7m, a huge win credited to improved fraud detection systems that block or double check unusual spending activity. Counterfeit card fraud (skimming and cloning) losses also fell by over a half.

A complete breakdown of the figures can be found in a release by the UK Cards Association here. ®

Mobile application security vulnerability report

More from The Register

next story
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
NEW, SINISTER web tracking tech fingerprints your computer by making it draw
Have you been on YouPorn lately, perhaps? White House website?
LibreSSL RNG bug fix: What's all the forking fuss about, ask devs
Blow to bit-spitter 'tis but a flesh wound, claim team
Black Hat anti-Tor talk smashed by lawyers' wrecking ball
Unmasking hidden users is too hot for Carnegie-Mellon
Attackers raid SWISS BANKS with DNS and malware bombs
'Retefe' trojan uses clever spin on old attacks to grant total control of bank accounts
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
Don't look, Snowden: Security biz chases Tails with zero-day flaws alert
Exodus vows not to sell secrets of whistleblower's favorite OS
prev story

Whitepapers

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.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.