£16.9m of x billions 11.10.11
Financial Fraud Action announces:
Total fraud losses on UK cards fell to £169.8 million between January and June 2011 – a 9 per cent reduction compared with losses in the first half of 2010. (…)
Online banking fraud losses totalled £16.9 million during January to June 2011 – a 32 per cent fall on the 2010 half-year figure. (…)
The NFA estimated that fraud in all its guises costs the UK more than £38 billion a year – card and banking fraud accounts for only 1.2 per cent of this figure.
Not that doomed after all?
The criminals have new targets these days, the officials said. Increasingly, they are targeting sectors like retail and hospitality, instead of simply focusing on financial institutions, Martinez said. “Why hack into Citibank and steal 10 million pieces of information when you could hack into restaurants and get the same information and not have a big target, a bulls-eye, on your back?”