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Credit card numbers fraud; what is the hidden cost?

Perhaps we should not be surprised, but every time one of these stories concerning multi-million dollar organised cyber crime hits the headlines, the sheer scale of the operation is startling, even to an ex-Banker. It would seem that if credit card numbers - or indeed other personal information - gets out ‘into the wild’ then there is a certain inevitability around something fraudulent happening with the data.

I am only too aware from a recent painful personal experience of the sheer hassle and wasted time trying to sort out a single fraudulent credit card entry, so what is the hidden cost, both to individuals and UK Plc, of sorting out the mess behind the headline figures?

(And before you ask, as I have now answered these questions so many times I can rattle them off verbatim, no I have never been to that part of the Far East, no I did not order that item of 'computer equipment', and no I would never part with my card details to such an outfit!)

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