Cyber Crime is Driving UK Fraud Losses, Totalling £755m in 2015

From Computer Weekly

Payment card fraud accounted for 75% of UK fraud losses in 2015, most of which was remote purchase fraud using card details stolen though data hacks and malware, says FFA UK.

Financial fraud losses across payment cards, remote banking and cheques totalled £755m in 2015, up 26% on 2014 and driven largely by identity theft, according to Financial Fraud Action UK (FFA UK).

Cyber criminals are increasingly using malware and social engineering attacks to acquire personal, financial and card data that can be used to commit fraud.

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