Central Banking

Kazakhstan reports large decline in credit card fraud

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A report on payments systems oversight, published by the National Bank of Kazakhstan on Monday, shows the number of credit card fraud cases reported in 2010 fell by 25.4%.

The report said in the 12 months to December, Kazakhstan's banks revealed 691 illegally-held transactions amounting to 56.9 million tenge ($388,000), a fall of 8.5% compared to 2009.

Of the 691 transactions reported, 389 were committed by non-cash transactions, amounting to 29.9 million tenge, and 302 through cash withdrawals

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