Fraud The Facts 2010

The definitive overview of payment industry fraud and measures to prevent it

Financial Fraud Action UK is the name under which the financial services industry co-ordinates its activity on fraud prevention, presenting a united front against financial fraud and its effects. Financial Fraud Action UK works in partnership with the UK Cards Association on industry initiatives to prevent fraud on credit and debit cards, with the Fraud Control Steering Group on non-card fraud matters and the Cheque and Credit Clearing Company on credit clearing and cheque fraud.

The UK Cards Association is the leading trade association for the cards industry in the UK. With a membership that includes all major credit, debit and charge card issuers, and card acquiring banks, the role of the Association is both to unify and represent the UK card payments industry. It is responsible for formulating and implementing policy on non-competitive aspects of card payments including codes of practice, fraud prevention, major infrastructural changes, developments of standards and other matters where cross-industry benefits are identified.

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"The cards industry sees fighting fraud as a key part of keeping its customers' interests centre-stage. We are committed to a wide range of measures to ensure customers feel confident, safe and secure when they use their credit and debit cards - whether in a shop, abroad, online, at a cash machine or anywhere else.

A fall in card fraud, as seen in 2009, is good news for everyone - UK consumers, retailers and the industry. We recognise that cards will always be targeted by criminals, so we are determined not only to continue to prevent, detect and deter those who are behind this type of crime, but also to make sure that innocent victims don't lose out."

MELANIE JOHNSON, Chair of the UK Cards Association, which represents UK credit and debit card providers.

"Although online banking fraud losses have shown a year-on-year increase, card fraud remains a main focus of criminal activity. However, the industry remains committed to containing and reducing all areas of fraud. To this end, we will continue our partnership approach - working with law enforcement, retailers, consumers and the Home Office - to tackle fraud head-on."

DAVID COOPER, Chairman of the Fraud Control Steering Group, the payment industry's leading non-plastic fraud prevention group.