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UK crime-watch sees increase in card fraud
The Cambodia News.Net
Saturday 19th July, 2008
A UK crime survey shows credit and debit card fraud has reached a record high of £535 million.
According to the new government figures, criminals are now using new methods to target consumers following the introduction of Chip and Pin.
Skimming, where a card is cloned and then used by thieves, has seen an increase of 46 per cent.
Consumers lost £144 million during 2007 due to skimming, up from £98 million in 2006.
The survey revealed that skimmed cards are used to withdraw cash abroad where ATM machines do not check for the Chip and Pin microchip.
Another new trend was the use of bugging devices which are fitted near shop tills to record the information stored on the magnetic microchip.
Criminals are able to record pin codes by this method.
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Comments on this story
James T
07-20-08, 11:31 AM |
UK crime-watch sees increase in card fraud
Fraud crimes will continue to grow until the government and banks exploit KEY and PIN system described on website www.xwave.co.uk which will make signature and PIN systems reliable and foolproof to deter fraudsters from getting tempted to misuse our stolen personal and card details.
Key and PIN system will deter virtually all types of fraud crimes including those Chip and PIN, data protection and biometric ID card systems will fail to deter.
This system will also eliminate the need for us to protect our personal an card details since fraudsters will not be tempted to misuse these stolen details.
Organisations would make their customers personalise signatures by letting them use mobile phone size device which will capture image and activate printer to print their ID sticker virtually instantly.
KEY and PIN system could be treated like international ID card since it will personalise signature and PIN to the right individual in any country in the world.
We hope that the banks and government will support and exploit proposed system before it is too late to stop a fraud boom.
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Tim Jones
07-21-08, 03:54 AM |
To combat fraud crimes banks should make signature and PIN systems reliable as proposed
Fraud crimes will continue to grow until the government and banks exploit KEY and PIN system described on website www.xwave.co.uk which will make signature and PIN systems reliable and foolproof to deter fraudsters from getting tempted to misuse our stolen personal and card details.
Key and PIN system will deter virtually all types of fraud crimes including those Chip and PIN, data protection and biometric ID card systems will fail to deter.
This system will also eliminate the need for us to protect our personal an card details since fraudsters will not be tempted to misuse these stolen details.
Organisations would make their customers personalise signatures by letting them use mobile phone size device which will capture image and activate printer to print their ID sticker virtually instantly.
KEY and PIN system could be treated like international ID card since it will personalise signature and PIN to the right individual in any country in the world.
We hope that the banks and government will support and exploit proposed system before it is too late to stop a fraud boom.
|
Victor B.
07-22-08, 07:58 PM |
Magnetic microchips. . .!!!
Is there a new kind of new technology we are not aware of?
The last part of the story goes: “Another new trend was the use of bugging devices which are fitted near shop tills to record the information stored on the magnetic microchip."
There are Magnetic stripes and microchips (as Long as I know) but no magnetic microchips.
Then the last part of the history is false, no one can “record pin codes” from the cards because a simple reason, the PIN codes are not stored in the card, in fact they are not stored at all in any place, they are calculated every time, but never stored.
Think you should be more informed before trying to inform us.
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