Stores loses £80 million to credit card fraud

[temi]

Store all over UK are said to have lost up to £80 million in fraud in the pre-Christmas shopping rush. Despite the chip and pin security, stores are still losing a huge amount of money to credit card fraud. The lose this year represents about 36% rise over last year's figure, criminal gangs from abroad are blamed for the fraud. They are said to clone credit cards and then use it over here. Cards from US are said to be the most vulnerable because US still use the old fashion signature verification system as oppose to chip and pin which is now widely adopted across Europe.

[james121]

thanks for sharing it.I the cheaters are from technical background & they know faults and they are using it .So it is the time to update the technology time to time someone said that "it is good to spend $10 to save $100 "so loose some gain more