24 May 2017
Book a meeting today

London is UK's card fraud capital

25 July 2008  |  11959 views  |  0 anonymous figure in front of stock exchange

London is the card-not-present (CNP) fraud capital of the country, according to a study released security specialists The 3rd Man and 192business.com.

Based on analysis of over 30 million 'good' and 'bad' card transactions between January and June 2008, the research focuses on fraudulent activity by postcode.

The new research has revealed south-east London as the CNP fraud capital of the UK, with Thamesmead (SE28), highlighted as a hotspot.

Other places in the top ten include Manchester (5th), Romford (3rd) and Ilford (8th) in Essex, and Dartford (10th) in Kent. In the Midlands, Coventry (7th) is followed by Nottingham (9th).

The research shows that Liverpool and Kilmarnock have reduced card crime levels since a previous study in 2006 "because local policing activity has targeted these criminals and it's having a clear effect," says Andrew Goodwill, director, 3rd Man Group.

"By exposing where fraudsters congregate and how exactly they deceive and steal, the police and other law enforcement authorities should be able to deal with the problem more effectively," adds Goodwill.

The security firms also claim that losses from card-not-present (CNP) fraud are far higher than official statistics suggest. For every incident of CNP fraud that is reported in the UK, a further eight attempted frauds go unreported, according to a survey of users of 192business.com's customer ID check service.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lords calls for law to make UK banks liable for online fraud

Lords calls for law to make UK banks liable for online fraud

08 July 2008  |  11640 views  |  0 comments
Brits risk card fraud with slack security

Brits risk card fraud with slack security

21 May 2008  |  9701 views  |  0 comments
Card fraud abroad pushes UK losses up 25%

Card fraud abroad pushes UK losses up 25%

12 March 2008  |  7992 views  |  0 comments
Lords slams government response to cyber crime inquiry

Lords slams government response to cyber crime inquiry

30 October 2007  |  8474 views  |  0 comments
Lords presses UK government to introduce bank data security law

Lords presses UK government to introduce bank data security law

10 August 2007  |  8079 views  |  0 comments
UK tops Europe for card fraud

UK tops Europe for card fraud

21 November 2006  |  9624 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comDownload the paper nowvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8840 views comments | 29 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8833 views comments | 27 tweets | 28 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8629 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8596 views comments | 21 tweets | 24 linkedin
hands typing furiouslyOpen APIs - Leveraging Banking As a Servic...
6601 views 1 | 7 tweets | 9 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job