Wednesday 18 October 2017

Credit card fraud rises by quarter

Breda Heffernan

Breda Heffernan

CREDIT card fraud increased by almost a quarter last year with most of it taking place online.

Nine out of 10 cases of credit and debit card fraud happened when customers were making purchases online or over the phone.

Skimming of credit cards, previously the most common form of fraud, only accounted for 8pc of fraud cases last year.

Credit and debit card fraud cost over €25m last year. Customers who are the victims of fraud are entitled to be reimbursed by their bank.

Almost half of the fraudulent activity on the cards was carried out in the UK, with another fifth taking place in the US.

Only a small proportion of fraudulent spending occurred in Ireland.

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