ZA: Credit card fraud costs CT officials millions, but cases are down
Nathan Adams reports some statistics from Western Cape in South Africa that may be of interest to those who want to compare trends internationally:
Western Cape police on Tuesday said credit card fraud cost provincial officials nearly R16 million this year.
This type of fraud has decreased both in the Western Cape and nationally.[…]
Police said card skimming remained the most popular form of card fraud. Western Cape police seized 38 handheld card skimming devices this year.
Provincial banking industry losses due to card fraud have decreased by 56 percent in 2010.
Investigators said while criminals are using more sophisticated technology, they have recorded a 36 percent annual drop in card fraud countrywide.
Source: Eyewitness News (ZA).
The UK had also reported decreases in card fraud in the first half of 2010. As Finextra recently reported:
According to the UK Cards Association, total fraud losses on UK cards was £186.8 million in the first half, down 20% on the same period in 2009 and the lowest figure for 10 years.
Does anyone have current statistics for the U.S.?