Fraud Figures: UK Figures
- According to the National Fraud Authority, fraud cost the UK some 38.4 billion pounds in 2010 (or about 45 billion euros), thus displaying a 25% augmentation compared to 2009. The public sector appears to be most affected (21.2 billion pounds), followed by the private sector (twelve billion) and individual citizens (four billion pounds).
- The consulting firm BTG Global Risk Partners considers these figures are especially disquieting. The impact of fraud in all sectors is undeniable and the firm also explains that history tends to illustrate a parallel can be made between the end of recession periods and increase in fraud figures.
- Indicators published in October 2010 by the UK Cards Association indicate that UK bank card fraud decreased about 20% during the first semester 2010 (compared to the first semester 2009). Technical measures, such as the implementation of 3-D Secure and its adoption by e-merchants and cardholders alike proved successful in clearly identified, analysed and isolated fraud topologies.
See October 2010 Watch
- After the 2009 phishing attempts targeting a member of the British government, to steal military secrets, the government set up a 650 million pounds cybercrime plan over four years. 63 million pounds were allotted to British police forces in February 2011 to help them fight cybercrime networks, now considered larger threats then terrorism.
- A 2010 Payments Cards & Mobile report also insists on the progression of 3-D Secure in the UK and notes that it did contribute to fight fraud. Yet, it does not fail to remind its reader that this protocol cannot be seen as the online equivalent to chip and PIN cards.