Fraud losses on UK debit and credit cards fell seven per cent in 2011 to £341 million, an 11-year low, according to figures from the UK Cards Association.
Once again, this would seem to underline the benifits of chip AND PIN for retail face-to-face transactions.
While a fall in absolute value of fraud losses is good news, it would be equally interesting to know the trend in fraud loss as a percentage of total transaction value.
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