UK payment card losses totalled £671.4 M in 2018 -25.3.19


Another attention grabbing headline:  but look at the detail and you will see the  growth in fraud has come from two areas - Cardholder Not Present and Card ID Theft. Most comes from compromise of customer data from online databases or phising attacks. Although the cost of the fraud is mostly born by the banks, such losses ends up financing many other crimes. This lack of security is  seen as either the " cost doing business" or an example of " Someone Else's problem".  Of course it would be nice to be able to go back to the "good old days" when you could leave your front door open and nothing bad would happen. But the reason was simple; few people had anything worth stealing.  Security is everyone's responsibility- complain if you see something wrong 

signed : Grumpy old Smartex member.