UK Fraud: Trends and Statistics

FOCUS UK FRAUD: TRENDS & STATISTICS http://www.focustraining.co.uk/ Card I.D. fraud jumped 42% to £32.1 million in 2012 63% £388million of this fraud was CNP (card not present) fraud, which includes phone, Internet and mail order. Card fraud was the total number of losses to card fraud from 2011 to 2012 £140.2million of e-commerce fraud took place on cards in 2012. Counterfeit cheque fraud E12.3 million in 2012 There has been an overall reduction in cheque fraud of Cheque fraud Forged cheque fraud actually fell by 21% 6.8% between 2008 and 2012. Fraudulently altered cheque fraud fell to E11.4 million which was a reduction of 5% Online banking fraud losses totalled 39.6 million in 2012 Online banking fraud and phishing Online banking cases increased by The annual number of phishing incidents in 2012 was 12% 250,000 in 2012. The number of phishing incidents climbed by 130% from 2011 What measures are being taken? Fraud Intelligence Sharing Making card transactions safer The fraud intelligence sharing system (FISS) was established in 2008 to share information on attempted or confirmed fraud. FISS is estimated to have saved £5.9 million. Banks are also Chip and PIN has been developed and implemented to minimise plastic card fraud, and it should be noted that there has been an overall drop of 75% in counterfeit card fraud since 2008. Fraud Detection Systems Card companies continue to use neural networks to monitor any unusual spending patterns or potentially suspicious or fraudulent behaviour on the part of customers.