UK cardholders 'taking more steps to beat fraud'

More and more credit card holders are using card protection, which has helped to cut down on fraud.

Payment body Visa said that "the increasing adoption of card protection online by both retailers and consumers has helped to reduce fraud significantly".

Ian Barber, spokesperson for Visa, made the comments after it was revealed that card fraud fell by 23 per cent in the first half of this year.
The figures from Financial Fraud Action UK show a dramatic fall in the amount of card fraud losses as well as the first ever fall in card-not-present fraud losses, welcome news for those with high interest credit cards.

Mr Barber added that the efforts by the industry to prevent fraudsters being able to infiltrate the "transaction chain" have also helped to cut the number of fraud cases.

The figures have been supported by UK fraud prevention service CIFAS, which last week said that more victims of crime are protecting themselves from identity fraud.