Just days after the disclosure by New York police that several Guyanese had been arrested following the breaking up of what was described as “the biggest ID scam in American history” involving the manufacture and use of forged credit cards, a new report published in the United States says that credit and debit card fraudsters in that country remain on top of their game despite increased spending by commercial banks and other business houses on measures designed to curb their activities.
The Nilson Report, released recently by a California-based trade publication, says credit and debit card fraud in the global banking industry reached US$7.6 billion last year, up by 10 per cent from 2009. The report says that this year sections of the banking industry have suffered a number of high-profile losses resulting from breaches