PPI Claim News - 11/3/2010
Bank Reclaim: Online banks fraud soars
The number of online fraud cases has spiralled over the past year new figures show.
According to the UK Cards Association (UKCA), online banking losses totalled £59.7 million in 2009, an increase of a 14 per cent compared to the previous year.
It showed that a large proportion of fraudulent theft was achieved through internet "phishing" scams, where people are persuaded to hand over their personal details to seemingly legitimate sources.
Commenting on the statistics, David Cooper, chairman of the Fraud Control Steering Group, said: "Although online banking fraud losses have shown a year-on-year increase, card fraud remains a main focus of criminal activity."
Recent figures released by Fraudscape, showed that the number of identity frauds are also on the increase, jumping by 31.79 per cent year-on-year in 2009.
Neil Munroe, external affairs director of personal finance consultants Equifax, said the rise was a sign that both criminals and consumers are having difficulty gaining credit so "fraudsters are adapting to the economic climate".
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