Police unit tackles credit card fraud
Published On 27 April 2007
The police unit responsible for dealing with credit card fraud has celebrated its fifth birthday and revealed how effective it has so far been.Apacs, the UK's payment association, launched the Dedicated Cheque and Plastic Crime Unit (DCPCU) on April 29th 2002, with the aim of targeting the criminal use of credit cards and cheques in the UK.
Since its beginnings five years ago, the DCPCU has been responsible for more than £130 million in savings from reduced fraud activity. It has also recovered over 125,000 counterfeit credit cards and card numbers.
Home Office minister Vernon Coaker praised the unit, saying: "The Dedicated Cheque and Plastic Crime Unit has been an important initiative to cut fraud over the last five years and I am delighted at the successes they have had.
"The banking industry must also take credit for these successes. Their financial support for this Unit provides an excellent example of how a public/private partnership can work together to create a valuable addition to law enforcement when tackling organised financial crime."
In the coming year, the banking industry plans to continue to try to prevent credit card fraud. In the near future, the industry will merge its Fraud Intelligence Bureau with the intelligence section of the DCPCU.
This will create a network with increased funding and a wider remit to tackle all types of payment industry fraud.
Earlier this year, the retailer TK Maxx revealed that the card details of 45.7 million customers had been stolen by fraudsters.
