The Forum liaises and shares information with other fraud forums such as the Travel, Recruitment, Banking, Property Letting, Motor and Building Industries. They work together under the PHRISM.
The Committee are actively engaged in producing a Hotel Industry Fraud Prevention Manual which will become available to be purchased at this site
Useful advice and videos on preventing fraud within your hotel.
Fraud loss figures released (19 March 2009 by APACS, the UK payments association, show that card fraud losses totalled stg£609.9m in 2008. The two main areas of fraud were on transactions not protected by chip and PIN: specifically internet, phone and mail order fraud; and fraud abroad - committed by criminals using stolen UK card details in countries yet to upgrade to chip and PIN - which has nearly doubled in two years.
More about The Fraud Forum...
Although card fraud losses have increased, losses as a percentage of plastic card turnover amounted to 0.12% in 2008 equating to around a tenth of a penny lost to fraud in every £1 spent on cards less than the 0.14% figure in 2004. This reflects the positive effect of chip and PIN as well as the fact that we continue to use our cards more and more each year.
Card-not-present fraud losses have increased by 13 per cent over the last year and account for 54 per cent of all card fraud losses. Tackling this fraud is a priority and the industry continues to encourage cardholder and retailer take-up of MasterCard SecureCode and Verified by Visa - secure online payment systems that help prevent online shopping fraud¹. Furthermore, the increase in fraud through online and phone transactions should be seen alongside growing use of these shopping channels, as well as increasing numbers of businesses accepting cards remotely. From 2001 to 2008 card-not-present fraud losses rose by 243 per cent; over the same time period, the total value of online shopping transactions alone increased by 524 per cent (up from £6.6 billion in 2001 to £41.2 billion in 2008).
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