(by Mark Riley)

UK sees a fresh wave of card-not-present fraud, which lifted to GBP 116.4 million in 2003.

This figure shows uprise from 2002 GBP 110.1 million. The Association of Payment Clearing Services (APACS) thinks this tendency will continue on the UK’s chip and PIN migration.

Since 1998, CNP fraud lifted almost 300% with the total of GBP 13.6 million. It comprises about 80% of all UK card fraud losses, APACS says.

Value added retailers are strongly advised to adopt a secure online transaction approval process as they are the most vulnerable to CNP. APACS promotes chip and PIN payments, the Address Verification Service (AVS), the Card Security Code and the credit card associations’ 3-D Secure-based secure payment programs.