Who's in your wallet?
Published: 29 January 2009 13:07 GMT
Card fraud in the UK is on the up, with the capital worst hit, according to new research.
According to a survey by insurance company CPP that quizzed 1,600 individuals, one quarter said they had suffered from some sort of card scam in 2008.
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London is a particular fraud hotspot with a third of respondents from the area saying they had fallen victim to payment card fraud.
One in 20 of those who admit to being fraud victims said they suffered losses of more than £2,000.
Nationally, the survey found a five per cent increase in card fraud year-on-year, with a 10 per cent rise in London.
The CPP findings tally with a similar survey of 150 merchants and 1,000 consumers from payments company CyberSource, which found nearly 40 per cent of businesses surveyed said they lose one per cent of revenues to online fraud - which commonly involves card-not-present fraud - in 2008.
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