Lloyds Bank says overseas card fraud on the rise
Lloyds notes the increase in fraud in non chip countries, such as Canada, and USA.
Bank says overseas card fraud on the rise – Money – Times Online
Lloyds TSB has reported a leap in the number of fraudulent withdrawals from overseas ATMs. The bank says criminals are increasingly using cloned debit or credit cards in countries where chip and pin technology has not yet been introduced.
The weakest link theory applies here. Those countries that lag moving to chip and pin, will suffer increased fraud.
Lloyds TSB has reported a leap in the number of fraudulent withdrawals from overseas ATMs. The bank says criminals are increasingly using cloned debit or credit cards in countries where chip and pin technology has not yet been introduced.Nearly all UK ATMs have chip and pin technology which would leave fraudsters empty-handed if they tried to make a withdrawal with a fake card.
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