P202 CEEFAX 202 Sun 9 Apr 02:35/03   1/5  PLASTIC CARD FRAUD   Over 2 million plastic cards were lost or stolen in Britain in 1994N Of these, 162,000 debit, credit and charge cards were subsequently used illegallyN Given that there are an estimated 83 million plastic cards currently in circulation in the UK this may seem like a small percentageN But the costs to the UK banking industry are astronomical - card fraud cost £96.8m last year alone, though this was £33m below 1993's level of £129.8mN  Unit Trusts 207 Savings 260 Feature 2 Update Arrivals Stocks
P202 CEEFAX 202 Sun 9 Apr 02:34/00   2/5  PLASTIC CARD FRAUD   The level of plastic card fraud fell by 25% in 1994, according po APACS, the Association for Payment Clearing Services Richard Allen, chief executive of APACS, said: "'f are understandably pleased with the industry's success in bringing about a sharp reduction in plastic card fraud." "However, this does not mean we can relax our effortsN 'f must ma—ntain the pressure on the fraudsters and with the continued help of our partners - the retailers, police and the public - we are confident of maintaining this trend." Unit Trusts 207 Savings 260 Feature 2 Update Arrivals Stocks
P202 CEEFAX 202 Sun 9 Apr 02:36/11   3/5  PLASTIC CARD FRAUD   The average loss on each plastic card used fraudulently last year was £490N Card fraud at the point of sale - shops, restaurants and the like - cost British banks £65.5m. The battle to beat the fraudsters is therefore hotting up and the use of more sophisticated technology may yield results. Retailers are being encouraged to seek authorisation for more card transactions and put less reliance on spotting forged signaturesN  Unit Trusts 207 Savings 260 Feature 2 Update Arrivals Stocks
P202 CEEFAX 202 Sun 9 Apr 02:34/15   4/5  PLASTIC CARD FRAUD   Retailers are being encouraged to seek authorisation for more card payments in an effort to beat fraud In Britain only 30% of plastic card transactions are authorised (as (against 85% in America) and the aim is to lift this to 50% by 1996. Electronic terminals give retailers the opportunity to checs whether or not there is any reason to qyestion any given transactionN Although fraudsters are getting more sophisticated, many still rely on the old fake signature tricsN  Unit Trusts 207 Savings 260 Feature 2 Update Arrivals Stocks
P202 CEEFAX 202 Sun 9 Apr 02:35/01   5/5  PLASTIC CARD FRAUD   Losses related to the fraudulent use of plastic cards intercepted during delivery fell last yearN Improved security cut losses by £5.6m, or 30%, to £12.6m in 1994. The use of couriers, recorded delivery and branch collection by banks and building societies made a significant differenceN Fraudsters manage to spend an average of £250 before the loss of a card is reported, and 5,000 cards are still lost or stolen every day in BritainN Unit Trusts 207 Savings 260 Feature 2 Update Arrivals Stocks