New credit card fraud rules criticised

New rules that mean victims of credit card fraud now report the incident to their bank instead of the police have been widely criticised.

An investigation conducted by BBC news magazine program Newsnight found that some police forces had not been notified of a single incident since the introduction of the new regulations.

Home Office statistics show that approximately one in three people has fallen victim to credit card fraud at some point.

James Brokenshire, Conservative spokesman on e-crime said: “It is essential that there is no reduction in reporting or any suggestion that this type of crime is being downgraded, especially if this is to bring down reported crime levels.”

He added that it was “astonishing that the Home Office seems perfectly happy to just rely on the banks to sort it out”.

According to the Guardian, credit and debit card fraud cost consumers £430 million in 2006.

© Adfero Ltd

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