UK card fraud falls after banks tighten security
The amount of money stolen from credit and debit cards has fallen sharply, with banks claiming they are now managing to stop 67 per cent of attempted fraud.
New figures reveal that card theft in the first half of the year was £287m, down 11 per cent compared with a year ago, according to the trade body UK Finance.
The drop in fraud comes despite an increase in card spending, which jumped 8.4 per cent year-on-year in the six-month period.
Banks have tightened security systems while the government has raised consumer awareness over the need to protect pin numbers and passwords.
But while credit card fraud has fallen, the rise in mobile banking apps and internet banking has attracted criminals.
Last year Tesco Bank had to repay customers £2.9m after fraudsters hit thousands of current accounts.