Online fraud figures released yesterday by APACS, the UK payments association, show a 44% rise in online banking fraud last year.

Offline credit card fraud at UK retailers fell by 47% to a total of £72.1m, from 2005's figure of £135.9m, thanks largely to the introduction of chip and pin.

But the figures show that online fraud is on the rise, with £33.5m stolen from online bank accounts in the UK - a rise of 44% from 2005's figure of £23.2m.

The number of phishing attacks also rose sharply - in 2005 the number of reported attacks was 1,173; last year the figure was a massive 14,156.

This figure includes attacks via links to spoofed sites, as well as attacks using malware, such as the recent attack on Swedish bank Nordea, when fraudsters stole £570,000.

Graham Charlton

Published 15 March, 2007 by Graham Charlton

Graham Charlton is the former Editor-in-Chief at Econsultancy. Follow him on Twitter or connect via Linkedin or Google+

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Comments (1)


Henry Losada

Hello, I have receibed on July 15 an announcement fron a supposed agent for British Petroleum On line Lottery, stating I was the winner of one million BPounds, and that I have only ten days to cash the price.
I like some one out there to inform me via e-mail to if this is a new way of fraud in progress. I do not have any idea how my e-mail address got there and if this is real or not. so I need a quick answer on this matter.
Appreciate any help.
Faithfully your

almost 11 years ago

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