Credit Card News Overseas Credit Card Fraud Cases Dropping 8752622

Overseas credit card fraud cases dropping

16 June 2005
New evidence suggests that the number of cases of fraud using UK credit cards overseas has fallen.

Apacs, the industry association that represents card issuers, has revealed that the fraud committed abroad on UK cards last year was the lowest figure for five years.

Fraud on UK credit cards abroad totalled £92.5 million in 2004, a significant decrease compared with the high of £138.4 million registered in 2001.

The drop in overseas credit card fraud is particularly marked when considered together with the fact that the use of UK credit cards abroad has increased by 93 per cent over the last five years.

Apacs welcomes the drop in fraud figures, but warns UK residents travelling abroad not to be any less vigilant about keeping their card safe.

“The fall in card fraud abroad is great news for UK consumers, but cardholders should remember to follow a few simple rules to make sure they’re protected while they’re abroad,” said Sandra Quinn, communications director at Apacs.

“Simple things like making sure your cards never leave your sight, and remembering to dispose of receipts carefully can make all the difference.”

According to the Apacs figures, the majority of the cases of credit card fraud took place in just a few countries, with more than half the crimes committed in the USA, France and Spain.

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Written by Editorial Team