Fraud prevention tactics starting to pay off

The new anti fraud measures being introduced to combat credit card fraud are starting to prove very effective in reducing credit card theft. The introduction of Chip and Pin credit cards are seen as the single most reason for this change.

Credit card fraud fell by 5% in 2003 to £402.4m.

Fraudsters are now starting to target other areas of credit card fraud like “cardholder not present” which actually amounts to 80% of all fraud losses.