Cash machine fraud has soared by 85%, causing losses of £61m during the past year, according to figures released today by the card payment industry.
The Association of Payment Clearing Services (Apacs) has announced that cash machine crime was the fastest growing type of fraud in the year leading up to June 2004. Apacs said total card fraud had risen by 18% to £478.8m in the 12 months to June 2004. Counterfeit card fraud fell by 2% to £123m while lost and stolen card fraud rose by 11% to £118.8m. Identity theft also soared, increasing by 50% to £37m.