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London tops credit card fraud figures

London tops credit card fraud figures

Category: Credit cards

Updated: 27/04/2017
First Published: 28/01/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

For the second year in a row, with 1 in 3 people affected, London has been confirmed as the credit card fraud capital of Britain.

Almost 3 million Londoners have been affected in the last 12 months, which is not only a 10% rise, but also close to a third of all British credit card fraud cases. On average £650 was stolen per person, although 6% of victims lost more than £2,000.

It seems that online fraud is growing, with not just the theft of the card being the problem. 21% of cases were not physical card thefts, but the copying of details after the card had been used at a cash point or chip and pin terminal.

Chief Executive of the Independent Banking Advisory service, Eddie Weatherill: "There seems to be a problem with catching up with the fraudsters. Unless the figures get too high for the banks nothing will change."

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