Chip and PIN was meant to beat credit card fraud. Guess what? It’s up 50% | Mail Online

Chip and PIN was meant to beat credit card fraud. Guess what? It’s up 50% | Mail Online: “Card fraud has leapt almost 50 per cent since the introduction of the chip and PIN system that was supposed to cut the problem.

The total hit a record high of £609.9million in 2008, which was 14 per cent up on the previous year.

More disturbingly, the figure has jumped by £182.8million – 43 per cent – since the chip and PIN system became universal on Valentine’s Day in 2006.”

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