News & Views - Savantor

Old Tech fraud returning

Friday, 28 September 2012

Debit and credit card fraud increased to £185m in the first six months of this year, an increase of 9 % from the same period last year, according to the UK Cards Association. 

Card Fraud Type – on UK issued credit and debit cards

Jan-June 2008

Jan-June 2009

Jan-June 2010

Jan-June 2011

Jan-June 2012

+/- 11/12















Lost or stolen cards







Card ID theft







Mail non-receipt














Contained within this total:

UK retail face-to-face txns







UK cash machine fraud







UK fraud







Fraud abroad







Cheque fraud








We all know the use of chip and PIN technology has helped to cut the amount of fraud and despite what some university researchers keep telling us about the weakness of the system it was always going to be the case that fraudsters would not waste time trying to exploit these ‘weaknesses’ when there were other easier, and more importantly cheaper, ways to make money from fraud. 

One scam preys on the elderly, as a pensioner is phoned by someone pretending to be from their bank, claiming that their card needs collecting and their PIN number is required to be keyed in. A courier is then sent to collect the card and deliver it to the conman.  Other old-school con tricks on the increase include distracting people in shops and at cash machines in order to physically steal their card which has resulted in a significant increase in lost and stolen fraud over the last 2 years.  There has also been a substantial increase in the number of phishing websites, and cheque fraud losses increased by 9% to £17.9 million in the first half.  Now it seems that the warning signs from the last couple of years are a clear indication that the criminal fraternity has resorted to more old school methods to make their money.

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