UK card fraud "over half a billion pounds"

UK card fraud "over half a billion pounds" Card-not-present (CNP) fraud is much higher than official figures suggest, according to new research by fraud specialist The 3rd Man and 192business.com. The research, which identifies the major fraud hotspots throughout the UK, found that for every reported fraud, eight more go unreported and ignored by banks and the law. Andrew Goodwill, director of The 3rd Man Group, said that fraudsters "simply don't give up" and that card crime is "a major and growing threat to consumers and retailers". London tops the list of fraud hotspots, especially the south-east and Thamesmead. Fraudsters told 192business.com that they use chat rooms and personal details of previous tenants in their homes to find victims and also resell goods on a black market. Police were investigating earlier this month... [read full story]