Online Banking Fraud Increases Significantly

Online banking – the comfort of all the banking processes at the click of a mouse. So convenient and so time saving. These are the main features that made online banking so popular within few months of its launch.

But there are some concerns with online banking as it would be with any online-related activity. The main issue with online banking is security. The online baking fraud is also increasing day-by-day with the increase in online banking industry. The fraud has reached £52.5 millions mark in UK. This shows the severity of the issue.

Online baking fraud has doubled in UK from £22.6 millions in 2007 to £52.5 millions in 2008.The main issue with the stealing happened here is with the online usage of credit and debit cards.

Fraudsters have chosen mainly people buying goods online with their cards. This issue has the potential to affect the E-Commerce very seriously.

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