APACS releases 2007 numbers
March 18th, 2007 Posted in Credit Card Fraud, Europe, Government
Have we been at this for over a year? No, APACS just likes to release numbers statistics on fraud frequently. We talked about this late last year, but Ambersail reminds us again that the APACS, the UK payments association, says that online credit card fraud is up 16%. This is coupled with a reduction of retail fraud due to the Chip and PIN rollout.
You can read the APACS press release online. Strangely enough PCI is not mentioned. Ok, stay calm, maybe they forgot about PCI in the rush to publish the press release.
Nope. Sandra Quinn, director of communications at APACS, says:
We need Government intervention to remove the current barriers to this and we welcome improvements proposed in the Fraud Review and the Serious Crime Bill.
Now, I am not against this. I believe data privacy legislation is a good thing, but the whole idea behind PCI was to be a proactive, industry driven compliance program that removed the need for government intervention.
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