Success on the cards as banking industry reduces plastic card fraud by 25 per cent.(News and Reports)

The level of plastic card fraud fell by 25 per cent in 1994, according to the Association for Payment Clearing Services (APACS). Overall, the banking industry recorded a reduction in losses of[pounds]33 million to [pounds]96.8 million (losses in 1993 were [pounds]129.8 million). The total fall in UK fraud losses has been [pounds]68 million in two years.

Speaking at the announcement of the figures on Monday, 13 March, Richard Allen, chief executive of APACS, said: "We are understandably pleased with the industry's success in bringing about a sharp reduction in plastic card fraud. However, this does not mean we can relax our efforts. We must maintain the pressure on the …