UK E-commerce Fraud Jumps 18% in 2016

By Phil Muncaster

E-commerce payment fraud soared by 18% from 2015 to 2016, while online banking fraud dropped as cyber-criminals changed tactics to target users directly, according to Financial Fraud Action UK.

The payments industry body revealed e-commerce fraud for 2016 stood at nearly £309 million, although this should be put in context of card spending also increasing by 18% over the period to £248 billion.

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