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Card crime on the rise

Credit card holders have been warned to be extra vigilant following new figures revealing the extent of UK card fraud.

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20 March 2009

Card crime on the rise”

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According to payments association Apacs, total fraud losses on UK debit and credit cards rose by 14% to £609 million in 2008.

Online banking fraud also jumped to £52.5 million last year, up from £22.6 million in 2007.

An Apacs spokeswoman said: "The industry continues to remind customers to ensure that they have their computer's firewall switched on and anti-virus software up to date."

There is some good news for consumers, however, with Apacs revealing losses as a percentage of card turnover are falling, dropping to 0.12% of turnover in 2008 from 0.14% in 2004.

Meanwhile, a spokeswoman for credit card provider Barclays reassured consumers earlier this month that new contactless debit cards would not be an increased security risk.

She told the Times: "A lost and reported card will be immediately cancelled and no longer useable."

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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