Data on the annual value of losses related to counterfeiting* on UK-issued debit and credit cards in the United Kingdom from 2002 to 2020 shows that the annual losses on counterfeit debit and credit cards decreased overall during the period under observation, reaching a value of 8.7 million British pounds as of 2020. The largest value of losses on counterfeit debit and credit cards was found in 2008, when losses amounting to 169.8 million British pounds were recorded.
Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020
(in million GBP)
* Counterfeit card fraud occurs when a fake card is created by fraudsters using compromised details from the magnetic strip of a genuine card. This type of fraud typically occurs as a result of criminals stealing details from the magnetic strip on UK cards which are then used to make fake magnetic strip cards for use overseas in countries yet to upgrade to chip and PIN.
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UK Finance. (March 24, 2021). Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020 (in million GBP) [Graph]. In Statista. Retrieved January 08, 2025, from https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/
UK Finance. "Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020 (in million GBP)." Chart. March 24, 2021. Statista. Accessed January 08, 2025. https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/
UK Finance. (2021). Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020 (in million GBP). Statista. Statista Inc.. Accessed: January 08, 2025. https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/
UK Finance. "Value of Annual Counterfeit Losses on Uk-issued Debit and Credit Cards from 2002 to 2020 (in Million Gbp)." Statista, Statista Inc., 24 Mar 2021, https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/
UK Finance, Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020 (in million GBP) Statista, https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/ (last visited January 08, 2025)
Value of annual counterfeit losses on UK-issued debit and credit cards from 2002 to 2020 (in million GBP) [Graph], UK Finance, March 24, 2021. [Online]. Available: https://www.statista.com/statistics/286254/united-kingdom-uk-counterfeit-losses-on-plastic-cards/
