Central Banking

New anti-fraud cards on the way

UK - New measures to counter credit and debit card fraud have been unveiled by the UK's banking industry.

The proposed change means people will key in a PIN number when they use their card instead of signing a receipt.

Last year, card fraud was estimated to have cost the industry about £400m and it is hoped the new scheme will halve mis-use within three years.

The total cost of carrying out the new measures is estimated at £1.1bn, spread over the next two to three years.

Pilot schemes


Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account