Card-not-present initiative to tackle credit fraud

UK banks, retailers and the police have stepped up the pace in the fight against credit card fraud.

Card Watch, the banking industry’s public fraud prevention programme, has released a set of initiatives and best practice guidelines for retailers, to help combat the growing problem of card-not-present fraud.

More than £110m was lost to this form of fraud in the last year, whereby credit transactions occur by mail order, telephone, fax or the internet.

A training pack, entitled Spot & Stop Card-not-Present Fraud, has been specifically designed to help retailers to protect themselves.

The pack contains a range of advice on transaction risks, authorisation, and what to do if you suspect fraud.

For further information on preventing credit card fraud, and to view the guide, visit the Card Watch site.