APACS responds to latest CPP release

APACS logo for press releases2

Friday, 22, Aug 2008 12:00

In their latest release dated 22 August, ‘Forecast is hot for fraud this Bank Holiday’, CPP offers incorrect information when claiming that Spain and France are “… the top spots where Brits fall victim to card theft”. Our latest statistics, provided directly by our member banks, show that fraud in France on UK issued cards has decreased by £4.3million1 in two years, and France has dropped to fourth place for where fraud on our cards is committed. This is a direct result of the French introducing the same global chip and PIN system that we are using in the UK. Equally, fraud in Spain has fallen by £3.9 million since their rollout.

The CPP release focuses on fraud that takes place abroad but the fact is that the majority of this type of fraud occurs when card details are stolen in the UK, and used fraudulently abroad. Fraudsters copy the magnetic stripe details, typically by skimming cards, then create fake magnetic stripe cards that they use overseas in countries that do not have chip and PIN. Therefore it is vital that cardholders are always careful with their cards - treating them as safely as they would their cash, whether they are abroad or at home. However, as the rest of the world upgrades to chip and PIN, it will become increasingly difficult for fraudsters to use fake cards overseas.

If you are going abroad with your plastic cards APACS would advise cardholders to:

· Make sure you have your card company’s 24-hour contact phone number

· Make sure your card company has up-to-date contact details for you, including a mobile number

APACS has issued an advice guide entitled Using your plastic overseas. This guide is freely available for download from www.apacs.org.uk, www.cardwatch.org.uk and www.choosingandusing.com

ENDS

For further information contact the APACS Press Office on 020 7711 6316

Notes to editors:

APACS is the trade body that gives banks, building societies and card issuers a forum where they can work together on non-competitive issues. We help manage the way that businesses and individuals in the UK move their money around - this covers cash, credit and debit cards, cheques and automated payments such as Direct Debits, salary payments and the new Faster Payments Service launched on 27th May for online/phone banking transactions and standing orders. We lead the fight against banking fraud and twice a year we publish figures on payment industry fraud losses.

1 2007 fraud figures show that fraud abroad is highest in USA (£24.6m) followed by Italy (£9.6m), Australia (£8.2m), France (£7.3m) and Spain (£5.7m).