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Online card fraud `worse than feared`
24 April 2008
Credit card and debit card fraud through online stores is affecting UK consumers far more than first thought, a new investigation has uncovered.
Research by the BBC found that card losses and debts from phone, internet or mail order crimes totalled £290.5 million in 2007 - but if all attempts at fraud had been successful, that total would have been closer to £500 million.
Criminals using new technologies can access bank accounts and credit card numbers and cause huge losses.
Andrew McClelland, from the Interactive Media in Retail Group, which represents online retailers, said: "If you`re committing a crime online then there is a high probability that you`ll get away with it and even if you are caught a fairly high probability again that the punishment won`t be that severe."
Further research by the BBC found that the introduction of chip and pin payment in shops had not made a significant dent in fraud totals.
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