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

The Asso