The Cost of Card Fraud in the UK

Each year, card fraud costs hundreds of millions of pounds, and figures continue to rise. Most credit card providers have security measures in place to minimise loss, and insurance that will help to compensate you if there are fraudulent transactions on your account. However, the non-financial cost to you is equally important; you will be inconvenienced by the necessary fraud investigation, with temporary loss of your card and time spent assisting the investigation.

The financial loss you suffer, although borne largely by your card provider, will have a wide ranging impact. The money a criminal gains from credit card fraud is often used to fund organised criminal societies, even terrorists. It is important for you and for others that you keep your financial details as secure as possible.