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Net card fraud 'underestimated' | Net card fraud 'underestimated' |
(about 1 hour later) | |
The extent to which criminals are targeting the internet for credit and debit card fraud is far greater than earlier estimates, new figures suggest. | |
Banking industry data shows card losses from phone, internet or mail order crime totalled £290.5m in 2007. | Banking industry data shows card losses from phone, internet or mail order crime totalled £290.5m in 2007. |
But a BBC investigation found if failed attempts had been successful the total could have been £500m. | But a BBC investigation found if failed attempts had been successful the total could have been £500m. |
The Tories want a minister to deal with internet crime. Ministers say they have invested £29m to fight online fraud. | The Tories want a minister to deal with internet crime. Ministers say they have invested £29m to fight online fraud. |
Hacked cards | Hacked cards |
An undercover investigation by BBC News revealed how easy it was to obtain stolen credit and debit card details on the internet. | An undercover investigation by BBC News revealed how easy it was to obtain stolen credit and debit card details on the internet. |
Posing as computer hackers, two journalists infiltrated a website selling thousands of stolen card details which had been stolen online from small internet retailers. | Posing as computer hackers, two journalists infiltrated a website selling thousands of stolen card details which had been stolen online from small internet retailers. |
When the cards were used, they traced the fraudulent transactions to a number of addresses in the UK and confronted people who signed for the goods they had bought. The information is being passed to the police. | When the cards were used, they traced the fraudulent transactions to a number of addresses in the UK and confronted people who signed for the goods they had bought. The information is being passed to the police. |
If you're committing a crime online then there is a high probability that you'll get away with it Andrew McClelland, of Interactive Media in Retail Group (IMRG) | If you're committing a crime online then there is a high probability that you'll get away with it Andrew McClelland, of Interactive Media in Retail Group (IMRG) |
Instead of selling stolen cheque books down at the pub, criminals now trade card details over the internet, one industry expert told the BBC News website. | Instead of selling stolen cheque books down at the pub, criminals now trade card details over the internet, one industry expert told the BBC News website. |
"It's just transferred from down the pub to online," said Georgina Doherty, a manager at the Third Man company which develops fraud screening solutions. | "It's just transferred from down the pub to online," said Georgina Doherty, a manager at the Third Man company which develops fraud screening solutions. |
"But if you don't know the pub to go to, you can't do it. | "But if you don't know the pub to go to, you can't do it. |
"The answer is it's very easy, but you do have to be in the right circles." | "The answer is it's very easy, but you do have to be in the right circles." |
Andrew Goodwill, also from the Third Man company, said criminals commonly use the cards to buy electronic gadgets, including sat-navs, laptops and PDAs. | Andrew Goodwill, also from the Third Man company, said criminals commonly use the cards to buy electronic gadgets, including sat-navs, laptops and PDAs. |
"They will then either ship them abroad and sell them in other countries where the value of such is a lot higher or they'll sell them in this country, locally for people down the pub for half price," he said. | "They will then either ship them abroad and sell them in other countries where the value of such is a lot higher or they'll sell them in this country, locally for people down the pub for half price," he said. |
Advice from credit card fraud expert, Andrew Goodwill | Advice from credit card fraud expert, Andrew Goodwill |
Shadow home secretary David Davis said there should be a central place to report cyber crime, specialist prosecutors and a distinct ministry. | Shadow home secretary David Davis said there should be a central place to report cyber crime, specialist prosecutors and a distinct ministry. |
"All those things would do a great deal to make Britain less of a soft target," he said. | "All those things would do a great deal to make Britain less of a soft target," he said. |
Andrew McClelland, of Interactive Media in Retail Group (IMRG), a body which represents online retailers, said it was time the government noticed the market place was making a major contribution to the economy and consumers were protected. | Andrew McClelland, of Interactive Media in Retail Group (IMRG), a body which represents online retailers, said it was time the government noticed the market place was making a major contribution to the economy and consumers were protected. |
"If you're committing a crime online then there is a high probability that you'll get away with it and even if you are caught a fairly high probability again that the punishment won't be that severe," he added. | "If you're committing a crime online then there is a high probability that you'll get away with it and even if you are caught a fairly high probability again that the punishment won't be that severe," he added. |
Overseas crime | Overseas crime |
In March, the Association of Payment Clearing Services (Apacs) said there was a 25% rise in the fraudulent use of UK credit and debit cards last year, with losses amounting to £535m. | In March, the Association of Payment Clearing Services (Apacs) said there was a 25% rise in the fraudulent use of UK credit and debit cards last year, with losses amounting to £535m. |
HAVE YOUR SAYMy way of ensuring online security is to use a separate bank account Steve, Oxford Send us your comments | HAVE YOUR SAYMy way of ensuring online security is to use a separate bank account Steve, Oxford Send us your comments |
Some £290.5m of this took place on the internet, via phone or mail order, where the credit or debit card holder was not present, a year-on-year rise of 37%. | Some £290.5m of this took place on the internet, via phone or mail order, where the credit or debit card holder was not present, a year-on-year rise of 37%. |
Apacs said the first rise in three years of overall card fraud was mainly due to stolen and counterfeit cards used abroad. Card fraud overseas rose by 77% last year to £208m and accounted for 39% of the total. | Apacs said the first rise in three years of overall card fraud was mainly due to stolen and counterfeit cards used abroad. Card fraud overseas rose by 77% last year to £208m and accounted for 39% of the total. |
As well as investing £29m over three years to fight online fraud, the government also said it was working with the banking industry to encourage retailers to adopt anti-fraud initiatives. | As well as investing £29m over three years to fight online fraud, the government also said it was working with the banking industry to encourage retailers to adopt anti-fraud initiatives. |