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"Peterborough consumers – impact from credit card fraud"

By admin | June 12th, 2009 | Credit Cards

Over recent years credit card fraud is an issue that has become a matter of concern for many officials and consumers. Many people are worried about using their credit cards online and in various other ways due to the risk of falling victim to this type of fraud.

Figures have shown that the level of card fraud have been rising over recent years as fraudsters find increasingly sophisticated ways of extracting credit card information from consumers and then using it fraudulently.

A recent report has claimed that cardholders from the Peterborough are still falling victim to credit card fraud even though there was said to be a sharp drop last year, and these fraud levels have been highlighted by information that was recently released by the payment clearing agency, APACS.

Internet based card fraud, mail order fraud, telephone card fraud, and card fraud carried out overseas are amongst the most common ways in which cardholders in the area are being affected by this type of fraud.

Recently released data had showed that credit card fraud in the area had dropped by 72 percent last year, but industry officials have said that picture may not be quite accurate, as the figures for the previous year many not have been accurate in terms of CNP, or Card Not Present, fraud.

An APACS official said: “In 2007 there was a significant increase in card fraud losses in the Peterborough postcode area, which was caused because the figure we had for card-not-present fraud losses in Peterborough was probably not giving an accurate picture. The card-not-present fraud losses were much lower last year, which shows a year-on-year fall.”

Tags: Card Not Present fraud, credit card fraud, peterborough

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