TITLE

Non-plastic fraud on the increase

PUB. DATE
February 2005
SOURCE
Credit Control;2005, Vol. 26 Issue 2, p51
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the non-plastic fraud is on increase. Bank losses as a result of non-plastic related fraud amounted to £107.6 million in 2004, according the British Bankers' Association. The figure represents an increase of 11% compared with 2003. Potential losses from fraud increased by 18% during the period, but over 90% of this was prevented by bank staff and security systems. Potential losses from cheque fraud attempts increased by 20% to £665 million although 93% of this was prevented, resulting in an actual loss of £46.22 million, an increase of 2% 2003.
ACCESSION #
17317372

 

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