Fraudulent use of cards abroad soars
Mar 13th 2007, 9:35 pm
#1
Guest
Posts: n/a
Fraudulent use of cards abroad soars
http://uk.news.yahoo.com/14032007/325/fraudulent-use-cards-abroad-soars.html
Fraudulent use of cards abroad soars
Reuters Wednesday March 14, 08:50 AM
LONDON (Reuters) - Fraudulent use of British plastic cards abroad
soared more than 40 percent last year, as chip and PIN technology
reduced the opportunities for card crime at home, figures showed on
Wednesday.
Fraud abroad totalled 118.2 million pounds during 2006 -- up 43
percent on the previous year, according to data from the APACS, the UK
payments association.
(Advertisement)
In contrast, domestic fraud fell 13 percent to 309.8 million pounds
although so-called "card-not-present" fraud, which includes online
scams, was up.
"Attempts are being made in the UK (to commit card fraud) without
success, but then criminals are taking cards and using them abroad in
countries where they don't have chip and PIN," said Sandra Quinn,
director of communications at APACS.
France, Spain and the United States had generally been the top three
countries for fraudulent activity on British credit and debit cards,
although a breakdown for 2006 was not yet available.
Total card fraud losses declined 3 percent to 428 million pounds
during 2006, driven by a 62 percent drop in non-receipt of mail fraud
and 23 percent fall in fraudulent use of lost and stolen cards.
However, while losses at UK retailers tumbled, fraudsters are also
increasingly turning to the Internet to spend on other people's
plastic.
The value of fraudulent face-to-face transactions fell by 47 percent
to 72.1 million pounds and cash machine fraud also declined -- by 6
percent to 61.9 million pounds.
But card-not-present fraud -- that committed over the Internet,
telephone or by mail order -- rose 16 percent to 212.6 million pounds.
It now accounts for almost half of all card fraud losses and is being
driven by an upturn in online banking fraud.
That soared 44 percent to 33.5 million pounds during 2006 -- the bulk
of which came from "phishing" incidents, said Quinn.
Such scams see fraudsters set up Web sites designed to look like
genuine bank sites, then send thousands of spam e-mails to try to dupe
people into logging onto the fake site and entering their online
banking security information.
"There is no one-size-fits-all approach to dealing with fraud," Quinn
told reporters.
"Chip and PIN has had a hugely positive effect on fraud losses over
the counter in UK shops and stores, but we are seeing more fraud on
transactions that do not use chip and PIN -- over the Internet and
phone, by mail order and abroad in countries that have not yet fully
upgraded to chip and PIN."
Moves are already afoot to tackle the problem areas, including a pilot
a scheme that will see banks issuing customers with their own hand-
held readers for card-not-present purchases.
Under this "remote card authentication" method, also known as "chip
and PIN plus", consumers will place their card in the reader and type
in their PIN.
The reader will then generate a one-off passcode, which will be
communicated to the retailer to verify the transaction.
The system has been designed to bolster the online protection offered
by MasterCard SecureCode and Verified by Visa, which sees consumers
input special PIN codes when buying goods from participating online
retailers.
Meanwhile, Lloyds TSB said on Wednesday it would become the first bank
to introduce automated telephone alerts to warn customers of
suspicious transactions on their current accounts.
The technology, "First Alert", has been in use for credit card
customers since 2005 and Gerrard Schmid, director of transaction
banking, said it had been a "huge success".
Fraudulent use of cards abroad soars
Reuters Wednesday March 14, 08:50 AM
LONDON (Reuters) - Fraudulent use of British plastic cards abroad
soared more than 40 percent last year, as chip and PIN technology
reduced the opportunities for card crime at home, figures showed on
Wednesday.
Fraud abroad totalled 118.2 million pounds during 2006 -- up 43
percent on the previous year, according to data from the APACS, the UK
payments association.
(Advertisement)
In contrast, domestic fraud fell 13 percent to 309.8 million pounds
although so-called "card-not-present" fraud, which includes online
scams, was up.
"Attempts are being made in the UK (to commit card fraud) without
success, but then criminals are taking cards and using them abroad in
countries where they don't have chip and PIN," said Sandra Quinn,
director of communications at APACS.
France, Spain and the United States had generally been the top three
countries for fraudulent activity on British credit and debit cards,
although a breakdown for 2006 was not yet available.
Total card fraud losses declined 3 percent to 428 million pounds
during 2006, driven by a 62 percent drop in non-receipt of mail fraud
and 23 percent fall in fraudulent use of lost and stolen cards.
However, while losses at UK retailers tumbled, fraudsters are also
increasingly turning to the Internet to spend on other people's
plastic.
The value of fraudulent face-to-face transactions fell by 47 percent
to 72.1 million pounds and cash machine fraud also declined -- by 6
percent to 61.9 million pounds.
But card-not-present fraud -- that committed over the Internet,
telephone or by mail order -- rose 16 percent to 212.6 million pounds.
It now accounts for almost half of all card fraud losses and is being
driven by an upturn in online banking fraud.
That soared 44 percent to 33.5 million pounds during 2006 -- the bulk
of which came from "phishing" incidents, said Quinn.
Such scams see fraudsters set up Web sites designed to look like
genuine bank sites, then send thousands of spam e-mails to try to dupe
people into logging onto the fake site and entering their online
banking security information.
"There is no one-size-fits-all approach to dealing with fraud," Quinn
told reporters.
"Chip and PIN has had a hugely positive effect on fraud losses over
the counter in UK shops and stores, but we are seeing more fraud on
transactions that do not use chip and PIN -- over the Internet and
phone, by mail order and abroad in countries that have not yet fully
upgraded to chip and PIN."
Moves are already afoot to tackle the problem areas, including a pilot
a scheme that will see banks issuing customers with their own hand-
held readers for card-not-present purchases.
Under this "remote card authentication" method, also known as "chip
and PIN plus", consumers will place their card in the reader and type
in their PIN.
The reader will then generate a one-off passcode, which will be
communicated to the retailer to verify the transaction.
The system has been designed to bolster the online protection offered
by MasterCard SecureCode and Verified by Visa, which sees consumers
input special PIN codes when buying goods from participating online
retailers.
Meanwhile, Lloyds TSB said on Wednesday it would become the first bank
to introduce automated telephone alerts to warn customers of
suspicious transactions on their current accounts.
The technology, "First Alert", has been in use for credit card
customers since 2005 and Gerrard Schmid, director of transaction
banking, said it had been a "huge success".
Mar 14th 2007, 9:07 am
#2
Guest
Posts: n/a
Re: Fraudulent use of viruses by michaelnewport
"Fuddy Duddy Judge" <[email protected]> a écrit dans le message de
news: [email protected]. com...
> http://uk.news.yahoo.com/14032007/32...oad-soars.html
>
> Fraudulent use of cards abroad soars
> Reuters Wednesday March 14, 08:50 AM
>
> LONDON (Reuters) - Fraudulent use of British plastic cards abroad
> soared more than 40 percent last year, as chip and PIN technology
> reduced the opportunities for card crime at home, figures showed on
> Wednesday.
>
> Fraud abroad totalled 118.2 million pounds during 2006 -- up 43
> percent on the previous year, according to data from the APACS, the UK
> payments association.
>
> (Advertisement)
> In contrast, domestic fraud fell 13 percent to 309.8 million pounds
> although so-called "card-not-present" fraud, which includes online
> scams, was up.
>
> "Attempts are being made in the UK (to commit card fraud) without
> success, but then criminals are taking cards and using them abroad in
> countries where they don't have chip and PIN," said Sandra Quinn,
> director of communications at APACS.
>
> France, Spain and the United States had generally been the top three
> countries for fraudulent activity on British credit and debit cards,
> although a breakdown for 2006 was not yet available.
>
> Total card fraud losses declined 3 percent to 428 million pounds
> during 2006, driven by a 62 percent drop in non-receipt of mail fraud
> and 23 percent fall in fraudulent use of lost and stolen cards.
>
> However, while losses at UK retailers tumbled, fraudsters are also
> increasingly turning to the Internet to spend on other people's
> plastic.
>
> The value of fraudulent face-to-face transactions fell by 47 percent
> to 72.1 million pounds and cash machine fraud also declined -- by 6
> percent to 61.9 million pounds.
>
> But card-not-present fraud -- that committed over the Internet,
> telephone or by mail order -- rose 16 percent to 212.6 million pounds.
>
> It now accounts for almost half of all card fraud losses and is being
> driven by an upturn in online banking fraud.
>
> That soared 44 percent to 33.5 million pounds during 2006 -- the bulk
> of which came from "phishing" incidents, said Quinn.
>
> Such scams see fraudsters set up Web sites designed to look like
> genuine bank sites, then send thousands of spam e-mails to try to dupe
> people into logging onto the fake site and entering their online
> banking security information.
>
> "There is no one-size-fits-all approach to dealing with fraud," Quinn
> told reporters.
>
> "Chip and PIN has had a hugely positive effect on fraud losses over
> the counter in UK shops and stores, but we are seeing more fraud on
> transactions that do not use chip and PIN -- over the Internet and
> phone, by mail order and abroad in countries that have not yet fully
> upgraded to chip and PIN."
>
> Moves are already afoot to tackle the problem areas, including a pilot
> a scheme that will see banks issuing customers with their own hand-
> held readers for card-not-present purchases.
>
> Under this "remote card authentication" method, also known as "chip
> and PIN plus", consumers will place their card in the reader and type
> in their PIN.
>
> The reader will then generate a one-off passcode, which will be
> communicated to the retailer to verify the transaction.
>
> The system has been designed to bolster the online protection offered
> by MasterCard SecureCode and Verified by Visa, which sees consumers
> input special PIN codes when buying goods from participating online
> retailers.
>
> Meanwhile, Lloyds TSB said on Wednesday it would become the first bank
> to introduce automated telephone alerts to warn customers of
> suspicious transactions on their current accounts.
>
> The technology, "First Alert", has been in use for credit card
> customers since 2005 and Gerrard Schmid, director of transaction
> banking, said it had been a "huge success".
>
>
news: [email protected]. com...
> http://uk.news.yahoo.com/14032007/32...oad-soars.html
>
> Fraudulent use of cards abroad soars
> Reuters Wednesday March 14, 08:50 AM
>
> LONDON (Reuters) - Fraudulent use of British plastic cards abroad
> soared more than 40 percent last year, as chip and PIN technology
> reduced the opportunities for card crime at home, figures showed on
> Wednesday.
>
> Fraud abroad totalled 118.2 million pounds during 2006 -- up 43
> percent on the previous year, according to data from the APACS, the UK
> payments association.
>
> (Advertisement)
> In contrast, domestic fraud fell 13 percent to 309.8 million pounds
> although so-called "card-not-present" fraud, which includes online
> scams, was up.
>
> "Attempts are being made in the UK (to commit card fraud) without
> success, but then criminals are taking cards and using them abroad in
> countries where they don't have chip and PIN," said Sandra Quinn,
> director of communications at APACS.
>
> France, Spain and the United States had generally been the top three
> countries for fraudulent activity on British credit and debit cards,
> although a breakdown for 2006 was not yet available.
>
> Total card fraud losses declined 3 percent to 428 million pounds
> during 2006, driven by a 62 percent drop in non-receipt of mail fraud
> and 23 percent fall in fraudulent use of lost and stolen cards.
>
> However, while losses at UK retailers tumbled, fraudsters are also
> increasingly turning to the Internet to spend on other people's
> plastic.
>
> The value of fraudulent face-to-face transactions fell by 47 percent
> to 72.1 million pounds and cash machine fraud also declined -- by 6
> percent to 61.9 million pounds.
>
> But card-not-present fraud -- that committed over the Internet,
> telephone or by mail order -- rose 16 percent to 212.6 million pounds.
>
> It now accounts for almost half of all card fraud losses and is being
> driven by an upturn in online banking fraud.
>
> That soared 44 percent to 33.5 million pounds during 2006 -- the bulk
> of which came from "phishing" incidents, said Quinn.
>
> Such scams see fraudsters set up Web sites designed to look like
> genuine bank sites, then send thousands of spam e-mails to try to dupe
> people into logging onto the fake site and entering their online
> banking security information.
>
> "There is no one-size-fits-all approach to dealing with fraud," Quinn
> told reporters.
>
> "Chip and PIN has had a hugely positive effect on fraud losses over
> the counter in UK shops and stores, but we are seeing more fraud on
> transactions that do not use chip and PIN -- over the Internet and
> phone, by mail order and abroad in countries that have not yet fully
> upgraded to chip and PIN."
>
> Moves are already afoot to tackle the problem areas, including a pilot
> a scheme that will see banks issuing customers with their own hand-
> held readers for card-not-present purchases.
>
> Under this "remote card authentication" method, also known as "chip
> and PIN plus", consumers will place their card in the reader and type
> in their PIN.
>
> The reader will then generate a one-off passcode, which will be
> communicated to the retailer to verify the transaction.
>
> The system has been designed to bolster the online protection offered
> by MasterCard SecureCode and Verified by Visa, which sees consumers
> input special PIN codes when buying goods from participating online
> retailers.
>
> Meanwhile, Lloyds TSB said on Wednesday it would become the first bank
> to introduce automated telephone alerts to warn customers of
> suspicious transactions on their current accounts.
>
> The technology, "First Alert", has been in use for credit card
> customers since 2005 and Gerrard Schmid, director of transaction
> banking, said it had been a "huge success".
>
>
