Credit card fraud falls 36% in Q2
Experian report claims credit card fraud could fall further in 2011
Using a credit card in UK has become safer in recent months after new research revealed that fraud levels have dropped significantly.
Experian, the global information services company, has published a new report which shows that levels of credit card fraud in the UK during the second quarter of 2011 fell by 36 per cent compared to the same period last year.
It means just 12 in every 10,000 applications for credit cards were found to be fraudulent in the three-month period.
Furthermore, Experian predicts that the level of credit card fraud could potentially fall by as much as 40 per cent in 2011.
However, the report also shows that overall identity fraud is on the up with attempts by criminals to steal consumers' identities doubling in the first half of 2011 compared with the same period last year.
Nick Mothershaw, director of identity and fraud at Experian UK & Ireland, said: "Our analysis shows that we are witnessing a surge in the number of detected identity frauds, with current accounts the number one target in the UK.
"Fraudsters see the current account as an easier option, giving them a springboard for money laundering."
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