New legislation which means that banks now hold the responsibility for passing on cases of credit card fraud for investigation, is letting the fraudsters get away with it, critics have claimed.
According to an investigation by the BBC's Newsnight programme, some police forces have received no reports of card fraud since the new rules came into effect, with banks reluctant to pass on information of minor cases.
Speaking on the programme, James Brokenshire, e-crime spokesman for the Conservatives, said: "With one in three people being the victim of credit card fraud, 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."
However, with around £430 million having been lost as result of credit card fraud last year, the UK Payments Association has confirmed that it will continue to keep comprehensive data on all card crime, which will contribute to future Home Office statistics and reports.
"As an industry we have a vested interest in making sure card fraud is investigated and the fraudsters prosecuted," said Sandra Quinn of Apacs.
Earlier this month it was revealed that credit card fraud abroad cost UK travellers £118.2 million last year, with more than three quarters of the 9,000 reported cases taking place in Spain.
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