Tide of card scams and online attacks sends fraud losses soaring 25% to £400m in first half of 2016
Financial fraud losses in the first six months of 2016 increased by a quarter on last year to touch £400million, according to new figures by Financial Fraud Action UK.
The giant figure has been largely driven by credit and debit card fraud, which makes up the large majority of the losses, according the data.
Some £321.5million was lost on remote purchase fraud, which was up 31 per cent on the same period of 2015 - this includes lost and stolen cards, cards not received, counterfeit cards and ID theft.
FFA UK intelligence suggests fraudsters are using card details obtained with malware and... read more
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