Phil Muncaster
Online banking and e-commerce fraud both saw major spikes over the past year, growing faster than total payment card fraud, according to the latest industry figures.
The Year-End 2015 Fraud Update from Financial Fraud Action UK revealed that the value of e-commerce fraud jumped 19% from 2014 to 2015 to reach £261.5 million.
When including mail order and telephone fraud which spiked 22% the figure for total card not present (CNP) losses amounts to an even higher £398.2m.
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Source: http://www.infosecurity-magazine.com/
