UK card crime spikes amid overall decline in fraud

UK card crime spikes amid overall decline in fraud

Credit Cards

The UK anti-fraud organisation Cifas has welcomed an 11% year-on-year drop in fraud in 2013, but warns that levels are still high compared with previous years. Cifas credited increased spending on fraud prevention and data sharing for the drop, which was matched by a lower overall level of losses to fraud.

Identity fraud and facility takeover fraud, collectively described by Cifas as "data-driven crimes", still represent a majority of all frauds reported – 63%, down slightly from 65% in 2012. D

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