SmartDebit review latest half year figures from the UK Cards Association

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SmartDebit

At SmartDebit, the security of our Direct Debit service is an absolute priority, which is why we have developed the industry leading processing environment and combined it with a full Information Security Management System Certification; ISO 27001:2005.

(PRWEB UK) 23 October 2012

The figures show a sharp rise in the amount of money being lost to online credit and debit card fraud. Between January and June of this year, consumers across the UK lost £21.6 million from online banking fraud, a 28 per cent increase from the same period in 2011. On the other hand, telephone banking fraud has fallen 21 per cent in the last year, with losses of £6.7 million as criminals continue to move toward web-based fraudulent activities. Card not present fraud, which includes the more traditional cheque fraud, remained static at £115.8 million.

The method being used by criminals is to trick people into revealing their logins. It is not entirely clear how users are being targeted but one of the main practices over recent years is key logging. As a consumer enters their details into a website, they are recorded and transmitted to the fraudster. This technique means the victim is never contacted directly, either through email or over the telephone.

SmartDebit are a Direct Debit Bureau and have specialised in payment processing since 1998. A spokesperson from the Surrey-based firm commented on the latest figures:

“We would like to remind consumers to check for the organisations compliances when purchasing goods or services online. Your bank or the police will never email you or cold call you and ask for your PIN number or login details.”

“At SmartDebit, the security of our Direct Debit service is an absolute priority, which is why we have developed the industry leading processing environment and combined it with a full Information Security Management System Certification; ISO 27001:2005.”

SmartDebit are the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.

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