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Fraud on credit and debit cards soared by 25% last year, reaching a record high, with losses of GBP535m. Card not present (CNP) fraud now amounts to more than half of all card losses both in the UK and abroad at GBP291m. This, claims GrIDsure, is indicative of the flawed reliance on Chip and PIN as the primary means to tackle fraud and yet the Association of Payment Clearing Services (Apacs) appears

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Source: Security Park
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