A few of us were talking last night about recent security problems with using debit and credit cards, and I was predicting a return to cash. Here is a recent article detailing the experiences in the UK.
Britons are Europe’s biggest victims of card fraud
Britain is the fraud capital of Europe, with almost 20 per cent of the population having been a victim of electronic card fraud.
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as a result of card fraud, 33 per cent of Europeans said the experience had made them favour cash over electronic payment
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almost a third of card fraud victims are never reimbursed for their loss by their card provider, despite claims to the contrary by banks
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It’s incredible how many people across Britain have fallen victim to card fraudsters and unsurprising that so many victims favour a return to cash
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consumers were not being “told the full story”.