UK Money News
21st May 2008
Brits stung by rise in overseas card fraud
Debit and credit card committed overseas fuelled a huge rise in the incidence of the crime last year, new data has shown.
According to figures from Which? magazine, fraud committed while Britons were in foreign countries rose by 77 per cent last year.
This fuelled a 25 per cent increase in fraudulent transactions involving Britons overall.
Cathy Neal, a spokesperson for Which?, said the high figures seen in overseas countries can be attributed in part to some nations' failure to adopt Chip and Pin to make transactions more secure.
She commented: "We are seeing more fraud than ever before. Chip and Pin has done a lot to stop fraud and most of Europe has now introduced it. I do not know why America hasn't yet."
In the UK where Chip and Pin is now firmly established, the incidence of fraud on plastic cards was up by just six per cent.
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