Financial fraud worth £315m stopped by specialist police unit

[Legal Beagles]

More...

[Tools]

Re: Financial fraud worth £315m stopped by specialist police unit

Financial fraud worth £315m stopped by specialist police unit

Wednesday, 29 Apr 2009 07:25


A specialist police unit focusing on stopping fraud has now saved over £315 million of losses and recovered more than 335,000 cards and card numbers.

The 40-officer strong Dedicated Cheque and Plastic Crime Unit (DCPCU) focuses on attacking card and cheque fraud – an area that many victims of fraud feel the police are ignoring.

Over the seven-year history of the unit, over £315 million in savings from reduced fraud activity have been achieved, 45,000 counterfeit cards have been recovered and 290,00 card details.

A total of 240 fraud convictions have been secured – and the unit has a conviction rate of over 90 per cent.

Detective Chief Inspector John Folan said: "The Unit’s track record over the past seven years speaks for itself.

"Our work continues to seriously disrupt the organised gangs responsible for this type of crime and, when coupled with fraud prevention savings in excess of £315 million, it is clear that the DCPCU has become a powerful asset in the fight against fraud.”

The unit recently uncovered card making equipment from a consignment from the Far East – stopped at Heathrow.

DC Paul Blumsom of the DCPCU explained: "[Blank cards] were concealed in handbags, sewn into the lining, and included with them was an embossing machine which included the typeface to put card details on cards.

"All the cards that came in were blank and with the machine they had the complete fraudsters kit so they could put the account holders details on the cards with the name and card number."

He explained each card could have incurred a potential loss of £850, so millions of pounds could have been lost.

"They have to gain the compromised card details first, so gangs will use various methods; they can put complete false fronts onto cash machines… and to the untrained eye you would not see it was a false ATM front."

DC Blumsom explained pinhole cameras above cash machines are used to record PINs and gangsters were quick and efficient at installing equipment.

Sandra Quinn, director of corporate communications at the payments association Apacs which funds the DCPCU, said: "Not only does the unit stand on its merits as a successful model for other countries to follow, but it provides real benefit when tackling the organised criminal gangs behind financial fraud."
She added members of the public who want to help in the fight against fraud have to look after their cards.

"Look after your PIN and don't write it down and never give it to someone who asks you, as nobody legitimate will ask you," she said.

"Keep you card safe and look after your statements. These kinds of very simple things are ways of helping the industry fight fraud together."

[righty]

Re: Financial fraud worth £315m stopped by specialist police unit

More bleeding spin because as we all know the reporting of card crime is no longer in the hands of the victim but in the hands of banks & if they choose NOT to report your loss as fraud then tough the police aren't interested............. help keep the numbers down dontaknow

Also we also know that £135million is but a drop in the ocean when it comes card crime, the true figure is many times more