HSBC Merchant Services – Card processing fraud
If you accept payments from customers using credit, debit or charge cards, your business runs the risk of financial loss from card processing fraud.
UK card fraud rose steadily over a 10-year period, from £83.3m in 1995 to £504.8m in 2004. However, this figure fell to £427.0m in 2006, following the introduction of Chip and PIN. Conversely, figures released for 2007 show card fraud losses are again on the increase (up 25% to £535.2m). This is largely driven by the growth in fraud overseas by criminals using stolen UK card details, principally in countries yet to upgrade to Chip and PIN.
Card usage and the number of cards issued continues to rise in the UK. With increasing card use comes an increased risk of exposure and businesses should remain vigilant to the potential fraud risk. It is important to understand the different types of fraud and to keep up to date with the schemes and initiatives to help you minimise these risks and protect your business from any potential losses.
Card payments
HSBC Merchant Services offer a range of electronic solutions for face-to-face card transactions and Secure ePayments for all card not present transactions.
Find out more about how HSBC Merchant Services can help you
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The following should help you identify and understand the different types of fraud and what you can do to minimise your exposure.
Card not present fraud
Card present fraud
Counterfeit card fraud
Lost, stolen and card not received fraud
Point of Sale security best practices
The guidance contained within these web pages is 'for information only' and does not replace the instructions given in your Card Processing Operating Instructions and Terms of Service. If you would like an additional copy of the Card Processing guide, please call 0845 702 3344.
