Card fraud prevention pays off

According to the BBC, the tons of fraud prevention measures taken by the UK seem to really be paying off. It is being reported that they have not seen numbers this low since nine years ago!

This leads me to thinking, what the stats for credit card fraud here in North America like I wonder? The U.S. and Canada have different circumstances here, so it is likely that we are seeing a higher rate on out side of the pond I am willing to bet.

“Market analyst Datamonitor said credit card fraud fell 5% to 402.4m last year, from 424.6m in 2002.

It added that the introduction of chip and pin cards – where customers verify a purchase by keying in a four-digit pin – should cut the figure further. “