Card fraud soars – this is how you can stay safe
Criminals are getting better at sealing out money, with card fraud soaring by more than a quarter in the past year.
Financial fraud losses surged by 26% year-on-year in 2015 amid a growing threat from deception scams and cyber attacks, a report has found.
Some £755 million-worth of losses were recorded in 2015 across payment cards, remote banking such as internet and mobile phone banking, and cheques, Financial Fraud Action UK (FFA UK) found.
The body, whose members include banks and credit and debit card issuers, said the figures reflect the “increasing threat” from impersonation and deception scams, including criminals stealing people’s details to commit identity fraud.