HSBC Merchant Services – Counterfeit card fraud
Counterfeit is a term used to describe either a completely manufactured card or a genuine card that has been altered in some way. This type of fraud fell to £110.6m in 2003 following a number of initiatives by the card industry, with a further 25% reduction to £96.8m after the implementation of Chip and PIN in 2005. However, Counterfeit fraud losses rose by 46% in 2007 to £144.3m. This is largely due to criminals stealing UK card details in order to make counterfeit cards for use in countries without Chip and PIN technology.
Be aware of the following security features that can help you identify counterfeit card fraud.
Card Security Features
VISA Security Features
- Dove hologram
- 'Flying V' embossed symbol
- First 4 digits are duplicated below the embossed account number – also in micro printing around VISA logo
- Card number starts with a "4"
- Ultra-violet details
All new Visa cards will be issued with updated security features. Existing Visa cards are still valid and will remain in circulation until July 2011.
MasterCard Security Features
- Card Number starts with a "5"
- Interlocking globes hologram with "MasterCard" in background
- Unique 'MC' or "Diphthong" embossed character
- First 4 digits are duplicated below the embossed account number
- Ultra-violet details
Newly issued MasterCard cards will incorporate modified security features. Existing cards are still valid and may remain in circulation until June 2010.
UK Issued Maestro (Switch) and Solo Security Features
- William Shakespeare hologram (Maestro)
- Solo logo hologram (Solo)
- Ultra violet details – Please note that, as Switch becomes re-branded as Maestro there will be two UV features in circulation.
- Ultra violet details
