Credit card fraud in Belgium on the increase

27th March 2009, Comments 0 comments

Credit card fraud on the internet has almost doubled in three years.

According to figures from the Federal Computer Crime Unit (FCCU), there are now around 1,000 cases each year of Belgians having their credit cards used fraudulently on the internet.

The FCCU presented the figures at an international conference on credit card fraud  is currently being held in the French city of Lille (Nord).

The FCCU says that it concerned by the recent big increase in fraudulent e-commerce.

Cash card also on the increase

Fraud involving cash cards is also on the increase.

The number of transactions using stolen or lost cards has risen by 50% during the past five years.

The illegal copying of the information contained on a bank card’s magnetic strip, known as 'skimming', rose by 300% during the same period.

The FCCU is pinning its hopes on new technology to improve electronic transaction security.

The unit stresses the important role the producers and issuers of credit, debit and cash cards have to play in the battle against fraud.

Furthermore, they claim, international cooperation through Europol will also be critical in the battle bank card crime.

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