Silicon solution no match for fraud - papers 8 March

While such technology may have made it more difficult to use cards at tills, organised criminals have instead turned to mail interception to obtain cards before they reach the intended customers. These intercepted cards are often used to buy goods via mail order or over the internet before the theft is noted The Times says. Card fraud has hit a record £500m, despite chip-and-pin, with mail interception up 62% in the past year, with cloned or “skimmed” credit and debit cards causing £130m worth of losses – up 17%. Although suppliers of the chip-and-pin technology claim the increasing ...