UK fraud police unit claims £315m saved
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LONDON - The UK's Dedicated Cheque and Plastic Crime Unit (DCPCU) says it has helped save £315 million by reducing fraud activity since its inception in 2002.
In that time the unit has secured 240 fraud convictions, recovered more 45,000 cloned and counterfeit credit and debit cards, and uncovered 290,000 sets of compromised card details.
The DCPCU is funded by the UK's banking industry and draws personnel from the City of London Police and Metropolitan Police in partnership with industry anti-fraud personnel.
UK payments association Apacs says card fraud losses cost the UK £609.9 million in 2008, in addition to cheque fraud losses of £41.9 million and online banking fraud costs of £52.5 million.
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