Chip and Pin Was Meant to Beat Credit Card Fraud. Guess What? It's Up 50% [Scot Region Edition 2]

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Summary

CARD fraud has leapt almost 50 per cent since the introduction of the chip and PIN system that was supposed to cut the problem.

The total hit a record high of Pounds 609.9million in 2008, which was 14 per cent up on the previous year.

Extract

Chip and Pin Was Meant to Beat Credit Card Fraud. Guess What? It's Up 50% [Scot Region Edition 2]

More disturbingly, the figure has jumped by Pounds 182.8million - 43 per cent - since the chip and PIN system became universal on Valentine's ...