Card fraud continued to decline in the six months to June 2006, according to the latest figures released by the UK payments association, APACS.
Government ministers believe the introduction of Chip and PIN has helped to cut face-to-face retail fraud significantly. Losses have decreased by 43% in the six months to June 2006, following on from a 35% fall the year before.
Total card fraud fell by 5% during the period, mainly thanks to the introduction of Chip and PIN.
Internet, phone and mail order fraud has increased, but at a much slower rate of 5% rather than the 29% seen between 2004-2005.
APACS director Sandra Quinn said: "These latest fraud figures show that the industry's efforts are making their mark."
Government ministers believe the introduction of Chip and PIN has helped to cut face-to-face retail fraud significantly. Losses have decreased by 43% in the six months to June 2006, following on from a 35% fall the year before.
Total card fraud fell by 5% during the period, mainly thanks to the introduction of Chip and PIN.
Internet, phone and mail order fraud has increased, but at a much slower rate of 5% rather than the 29% seen between 2004-2005.
APACS director Sandra Quinn said: "These latest fraud figures show that the industry's efforts are making their mark."
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