To explore the risk of identity fraud due to lost or stolen credit cards, CPP commissioned two sets of research. The first was a ‘live’ social experiment that involved dropping 100 wallets in different UK cities see how many were returned to their rightful owner and whether their contents were intact. The results were very interesting….
Card fraud is a major issue in the UK with this report showing that one in four adults has been a victim at some point in the past. Find out which cities are card fraud hotspots in our Regional Card Fraud report.
Our research found there has been a 17% increase in lost and stolen cards abroad. Do you take suitable precautions to prevent your cards being lost or stolen?. Read more to find out how to avoid being a victim of card fraud abroad.
Problem Gambling Treatment; the future arrives!actsconz
Problem Gambling Treatment; the future arrives!
Presented by Dr Sean Sullivan, ABACUS Counselling Training and Supervision Ltd at the 2012 Cutting Edge Conference, Wellington, New Zealand.
China E-Commerce Challenges and OpportunitiesMinh-Ha Nguyen
Minh-Ha Nguyen’s presentation on the challenges and opportunities of doing e-commerce in China highlights:
• Trends in China e-commerce, including mobile commerce
• Challenges of doing business in China, including the myth of China e-commerce as a low-cost distribution channel and what drives the high cost of China e-commerce
• Benefits of e-commerce in China
• Opportunities available for China e-commerce companies
• Opportunities available for the product manufacturers supplying these e-commerce companies in China
Dr Sally Gainsbury
Post Doctoral Research Fellow, Southern Cross University
Presentation given on 23 May 2011 at "The New Game: Emerging technology and responsible gambling" forum hosted by the Victorian Government's Office of Gaming and Racing as part of Responsible Gambling Awareness Week 2011.
Card fraud is a major issue in the UK with this report showing that one in four adults has been a victim at some point in the past. Find out which cities are card fraud hotspots in our Regional Card Fraud report.
Our research found there has been a 17% increase in lost and stolen cards abroad. Do you take suitable precautions to prevent your cards being lost or stolen?. Read more to find out how to avoid being a victim of card fraud abroad.
Problem Gambling Treatment; the future arrives!actsconz
Problem Gambling Treatment; the future arrives!
Presented by Dr Sean Sullivan, ABACUS Counselling Training and Supervision Ltd at the 2012 Cutting Edge Conference, Wellington, New Zealand.
China E-Commerce Challenges and OpportunitiesMinh-Ha Nguyen
Minh-Ha Nguyen’s presentation on the challenges and opportunities of doing e-commerce in China highlights:
• Trends in China e-commerce, including mobile commerce
• Challenges of doing business in China, including the myth of China e-commerce as a low-cost distribution channel and what drives the high cost of China e-commerce
• Benefits of e-commerce in China
• Opportunities available for China e-commerce companies
• Opportunities available for the product manufacturers supplying these e-commerce companies in China
Dr Sally Gainsbury
Post Doctoral Research Fellow, Southern Cross University
Presentation given on 23 May 2011 at "The New Game: Emerging technology and responsible gambling" forum hosted by the Victorian Government's Office of Gaming and Racing as part of Responsible Gambling Awareness Week 2011.
Our research shows online identity theft is becoming more sophisticated. Read this report to find out how widespread web scams are and how many consumers have been targeted in the past year.
I've been asked to speak in the conference "Fraud Management in the Finance Industry" in October, 2014. These are my slides I used during my presentation about the phenomenon of telephone fraud.
Catch Me If You Can: Fighting Fraud in the 21st CenturyAudrius Sapola
This is my presentation I delivered last week at the ECIIA conference in Stockholm ( see this link for more information http://www.eciiastockholm2016.eu/agenda/ )
Our research found that nearly half of home Wi-Fi networks can be hacked in less than five seconds. As technology advances, it is important to understand the risks from online identity theft. Read more about CPP's research into Wi-jacking and how you can protect yourself from online identity theft.
An overview of plastic card frauds and solutions for avoiding fraudster trans...eSAT Journals
Abstract Payment card fraud is causing billions of dollars in losses for the card payment industry. Besides direct losses, the brand name can be affected by loss of consumer confidence due to the fraud. As a result of these growing losses, financial institutions and card issuers are continually seeking new techniques and innovation in payment card fraud detection and prevention. Credit card fraud falls broadly into two categories: behavioral fraud and application fraud. Credit card transactions continue to grow in number, taking an ever-larger share of the US payment system and leading to a higher rate of stolen account numbers and subsequent losses by banks. Improved fraud detection thus has become essential to maintain the viability of the US payment system. Increasingly, the card not present scenario, such as shopping on the internet poses a greater threat as the merchant (the web site) is no longer protected with advantages of physical verification such as signature check, photo identification, etc. In fact, it is almost impossible to perform any of the ‘physical world’ checks necessary to detect who is at the other end of the transaction. This makes the internet extremely attractive to fraud perpetrators. According to a recent survey, the rate at which internet fraud occurs is 20 to25 times higher than ‘physical world’ fraud. However, recent technical developments are showing some promise to check fraud in the card not present scenario. This paper provides an overview of payment card fraud and begins with payment card statistics and the definition of payment card fraud. It also describes various methods used by identity thieves to obtain personal and financial information for the purpose of payment card fraud. In addition, relationship between payment card fraud detection is provided. Finally, some solutions for detecting payment card fraud are also given. Index Terms: Online Frauds, Fraudsters, card fraud, CNP, CVV, AVS
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
Guest talk on Web Fraud to Network Security, Elect Eng Sydney University.
Web1.0 generated revenues from advertising. In Web2.0 new monetization models were sought. Good stuff but eventually all these eCommerce sites wake up to discover that the fraudsters have moved in.
Limited only by their imagination and the monetization model, fraudsters will do things like: login hijacks, false signups, purchases with stolen credit cards, money laundering, nigerian/419 scams etc etc.
This talk talks about a few of these problems, how it gets done and what solution/responses exist.
Law enforcement agencies grappling with spike in multi-million-dollar cyber s...Bigger Price
Hass Associates Cyber Warning Tips and Reviews
LONDON — International law enforcement agencies say the recent $45-million dollar ATM heist is just one of many scams they’re fighting in an unprecedented wave of sophisticated cyberattacks.
Old-school robberies by masked criminals are being eclipsed by stealth multimillion dollar cybercrime operations which are catching companies and investigators by surprise.
“We are seeing an unprecedented number of cyberscams that include phishing for financial data, viruses, credit card fraud and others,” Marcin Skowronek, an investigator at Europol’s European Cybercrime Center in The Hague said on Saturday.
“In Europe, we are generally quite well protected against some types of fraud because of the chip and pin technology we use, but there are still shops and machines around the world who still take cards without chips. And the most popular destinations for this type of fraud are the United States and the Dominican Republic.”
Research conducted by life assistance company CPP has revealed that Britons are being forced to move due to neighbour disputes. According to the report, nearly 1 million householders have taken the decision to move when unable to resolve feuds with neighbours.
Our research shows online identity theft is becoming more sophisticated. Read this report to find out how widespread web scams are and how many consumers have been targeted in the past year.
I've been asked to speak in the conference "Fraud Management in the Finance Industry" in October, 2014. These are my slides I used during my presentation about the phenomenon of telephone fraud.
Catch Me If You Can: Fighting Fraud in the 21st CenturyAudrius Sapola
This is my presentation I delivered last week at the ECIIA conference in Stockholm ( see this link for more information http://www.eciiastockholm2016.eu/agenda/ )
Our research found that nearly half of home Wi-Fi networks can be hacked in less than five seconds. As technology advances, it is important to understand the risks from online identity theft. Read more about CPP's research into Wi-jacking and how you can protect yourself from online identity theft.
An overview of plastic card frauds and solutions for avoiding fraudster trans...eSAT Journals
Abstract Payment card fraud is causing billions of dollars in losses for the card payment industry. Besides direct losses, the brand name can be affected by loss of consumer confidence due to the fraud. As a result of these growing losses, financial institutions and card issuers are continually seeking new techniques and innovation in payment card fraud detection and prevention. Credit card fraud falls broadly into two categories: behavioral fraud and application fraud. Credit card transactions continue to grow in number, taking an ever-larger share of the US payment system and leading to a higher rate of stolen account numbers and subsequent losses by banks. Improved fraud detection thus has become essential to maintain the viability of the US payment system. Increasingly, the card not present scenario, such as shopping on the internet poses a greater threat as the merchant (the web site) is no longer protected with advantages of physical verification such as signature check, photo identification, etc. In fact, it is almost impossible to perform any of the ‘physical world’ checks necessary to detect who is at the other end of the transaction. This makes the internet extremely attractive to fraud perpetrators. According to a recent survey, the rate at which internet fraud occurs is 20 to25 times higher than ‘physical world’ fraud. However, recent technical developments are showing some promise to check fraud in the card not present scenario. This paper provides an overview of payment card fraud and begins with payment card statistics and the definition of payment card fraud. It also describes various methods used by identity thieves to obtain personal and financial information for the purpose of payment card fraud. In addition, relationship between payment card fraud detection is provided. Finally, some solutions for detecting payment card fraud are also given. Index Terms: Online Frauds, Fraudsters, card fraud, CNP, CVV, AVS
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
Guest talk on Web Fraud to Network Security, Elect Eng Sydney University.
Web1.0 generated revenues from advertising. In Web2.0 new monetization models were sought. Good stuff but eventually all these eCommerce sites wake up to discover that the fraudsters have moved in.
Limited only by their imagination and the monetization model, fraudsters will do things like: login hijacks, false signups, purchases with stolen credit cards, money laundering, nigerian/419 scams etc etc.
This talk talks about a few of these problems, how it gets done and what solution/responses exist.
Law enforcement agencies grappling with spike in multi-million-dollar cyber s...Bigger Price
Hass Associates Cyber Warning Tips and Reviews
LONDON — International law enforcement agencies say the recent $45-million dollar ATM heist is just one of many scams they’re fighting in an unprecedented wave of sophisticated cyberattacks.
Old-school robberies by masked criminals are being eclipsed by stealth multimillion dollar cybercrime operations which are catching companies and investigators by surprise.
“We are seeing an unprecedented number of cyberscams that include phishing for financial data, viruses, credit card fraud and others,” Marcin Skowronek, an investigator at Europol’s European Cybercrime Center in The Hague said on Saturday.
“In Europe, we are generally quite well protected against some types of fraud because of the chip and pin technology we use, but there are still shops and machines around the world who still take cards without chips. And the most popular destinations for this type of fraud are the United States and the Dominican Republic.”
Research conducted by life assistance company CPP has revealed that Britons are being forced to move due to neighbour disputes. According to the report, nearly 1 million householders have taken the decision to move when unable to resolve feuds with neighbours.
Corporate identity fraud statistics are hard to find due to the nature of this type of fraud. With this in mind CPP commissioned research to determine whether SMEs were properly safe-guarded against fraudsters. We found that only 56% of SMEs were aware of company identity fraud. Read this report for examples of fraudulent activity and how to minimise the risk.
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
2. Contents 2
1.0 Introduction
1.2 Industry Facts
1.3 Research methodology
1.4 Key Findings
- An estimated five million wallets have been lost in the past
five years and a further four million stolen
- In addition to the average £85 cash, people carry over
£7,000 in credit in their wallets/purses
- Not surprisingly the ‘act’ of being robbed was the most
stressful part of the experience
- Vast majority of people claim they would either hand in,
or try to track down, an owner of a lost wallet/purse
- The majority of people never see their lost or stolen wallets/
purses again
- The average person will spend over 110 hours – or four and
a half days – replacing their personal mementos and
debit/credit cards
- Card fraud is a common consequence of loss/theft
1.5 Conclusion
1.6 Avoiding Card Fraud
1.7 Further Information
1.8 About CPP
UK Lost and Stolen Wallets August 2010
3. Introduction 3
1.1 Foreword
Fraud continues to be a problem in
the UK and is driven in a number
of different ways. Online fraud,
institutional theft, social engineering
scams, card-not-present, ATM and
counterfeit fraud, lost and stolen
fraud and identity fraud collectively
make fraud an issue that can cause
untold inconvenience, stress and
irritation to many people.
We have seen card fraud losses decrease in 2009 predominately driven by a decrease in
The results did card-not-present fraud, but whatever the official statistics, it is clear that fraud in any guise
remains a problem. Identity fraud has hit the headlines over the last few years and the
not paint a consequences do undoubtedly cause misery for those people affected by this increasingly
insidious crime.
positive picture To explore the issue of risk in more detail, CPP commissioned two sets of research that
and showed would compare claimed and actual behaviour. The first piece of research saw CPP
conduct a ‘live’ social experiment that dropped 100 wallets throughout cities in the UK;
there was a real our intention to see how many were returned to their rightful owner and whether their
contents were intact. The second piece of research looked at claimed behaviour and
fraud risk with a investigated the issue of lost and stolen wallets/purses in much more detail.
The results were interesting and showed an inconsistency between what people claim
loss of payment they would do and what happens in the real world. Needless to say, the results did not
paint a positive picture and showed that there was a real fraud risk with the loss of
cards and cash payment cards and cash.
It is clear lost wallets/purses do go astray and whatever people can proactively do to
mitigate against their loss and theft will help manage the situation. The value of card
protection services is clear when considered against some of the research findings.
UK Lost and Stolen Wallets August 2010
4. 4
1.2 Industry Facts
- Fraud on debit and credit cards fell by more than a quarter in 2009 to £440.3m
(source: UK Cards Association)
- Fraud on lost and stolen cards totalled £47.9m in 2009 down 11 per cent on
the previous year
(source: UK Cards Association)
- Card-not-present fraud fell 19 per cent in 2009 to £266.4m
(source: UK Cards Association)
- Counterfeit card fraud (skimming and cloning) fell by over a half to £80.9m in
2009 (source: UK Cards Association)
- Online banking fraud losses in 2009 climbed by 14 per cent to £59.7m – these
losses were driven by criminals using more sophisticated methods to target
online banking customers through malware, which target vulnerabilities
in customers’ PCs (source: UK Cards Association)
- Cheque fraud fell 29 per cent from £41.9m to £29.8m in 2009
(source: UK Cards Association)
- The south east accounted for 53 per cent of fraud in the UK and 38 per cent
of fraud in the UK and abroad on UK- issued cards. The north west was the
second worst region with figures of 12 per cent and 9 per cent respectively
(source: UK Cards Association)
- There were over 143.7 million payment cards in issue in the UK at the end of
The south east 2009 including 79.3 million debit cards and 58.1 million credit cards and 6.4
million charge cards (source: UK Cards Association)
accounted - The average number of cards per person in 2009 was 3.6
for 53% of fraud
(source: UK Cards Association)
- Annually, CPP cancels over a quarter of a million payment cards in the UK that
in the UK and have been lost or stolen helping to fight card fraud, particularly face-to-face or
retailer fraud and card-not-present fraud. (source: CPP)
38% of fraud
in the UK and
abroad on UK-
issued cards
UK Lost and Stolen Wallets August 2010
5. 5
1.3 Research Methodology
ICM interviewed a random sample of 2,029 adults aged 18+ online between 29 July
– 1 August 2010. Surveys were conducted across the country and the results have been
weighted to the profile of all adults. ICM is a member of the British Polling Council and
abides by its rules. Further information at www.icmresearch.co.uk
The Wallet Dropping Experiment was completed by PCP Research. The procedure for this
research involved wallets and purses being dropped at various locations in five UK cities.
20 wallets/purses were dropped per city, meaning a total of 100 were dropped. The ‘drops’
took place at six different types of location; shopping centre, street, public transport, car
park, museum and café.
Each wallet or purse contained the following; £10 in cash (either two £5 notes or one
£5 note and £5 in change), a photograph, tickets, receipts and stamps to add authenticity,
and several business cards. Each business card bore a phone number which linked to the
research team. When members of the public found the wallet/purse and rang the number,
a member of the research team would take the call. During the call they took information
about where the wallet/purse had been found, and whether the possessions and money
were still intact, and asked for the caller to return the wallet. All members of the public
who returned wallets were offered remuneration for their postage costs.
The wallets/purses were dropped by trained market research fieldworkers, who took care
to ensure that they successfully made the drops without being seen by any members of
the public. We wanted to avoid any situations where a member of the public saw us
drop the wallet/purse and handed it straight back to us, as we wanted to allow time for
someone to find it and make the decision of what to do with it.
The research was conducted between 29th June 2010 and 14th July 2010.
UK Lost and Stolen Wallets August 2010
6. 6
1.4 Key Findings
An estimated five million wallets have been lost in the past five years and
a further four million stolen
The UK adult population according to the Office of National Statistics (ONS) is 49,051,000.
According to this research, 10 per cent of people claim they have lost their wallets/purses
in the last five years. This therefore equates to 4,905,100 wallets lost in the UK.
If we use the same equation we can calculate that there have been just short of 4 million
wallets/purses stolen in the last five years (49,051,000 x 8 per cent).
When we look at the results demographically men are marginally more inclined to lose
their wallets (10 per cent verses 8 per cent) then women, but there is no real bias towards
having them stolen.
However those aged 18-24 were the most likely to report their wallet/purse lost in the last
five years (24%) verses only 5 per cent of those aged 55-64.
When we looked at theft, 18-24 year olds were again more likely to have report their
wallet/purse stolen in the last five years (14%) with only 5 per cent of people aged 25-64
reporting any form of theft
When we looked at city comparisons people in Hull reported the highest proportion
of wallets/purses stolen in the last five years.
Q: Which of the following, if any, has happened to you in the last...?
79%
75%
80
70
60
50
40
30
14%
20
12%
10
4%
3%
3%
3%
2%
1%
1%
1%
0
Respondants who have lost their wallet/purse Respondants who had their wallet/purse stolen
Less than 6 months ago
6-12 months
1-2 years
3-5 years
Over 5 years
This hasn’t happened to me
UK Lost and Stolen Wallets August 2010
7. 7
In addition to the average £85 cash, people carry over £7,000 in credit in
their wallets everyday
When we questioned people who had been a victim of theft, the average amount of cash
carried (and stolen) amounted to £85.23. Those aged 25-34 carried the most money
(£114.01) verses those aged 55-64 who carried the least (£64.83).
Respondents in Newcastle purported to carry the most cash (£208.12) in stark contrast to
people in Southampton who reported carrying only £43.89. Residents in Birmingham and
Manchester carried the most money after Newcastle.
When we looked at the amount of available credit held by people who had had their
wallet/purse stolen the average was £7,401. This credit was held across two credit cards
per person. Not surprisingly those aged 45-54 reported holding the most credit (£11,734)
verses only £937 for people aged 18-24.
There was little variance in available credit between men and women.
The research also reported that people held on average 1.32 debit cards with men slightly
inclined to carry more debit facilities (1.38 men verses 1.29 women)
When we looked into what else was stolen in addition to cash (83%) and debit (61%) and
credit cards (47%), people reported losing reward cards (43%), other membership cards
i.e. for the gym, library (38%) as well as receipts and stamps (32%), driving licence (28%),
personal photos (27%) and store cards (24%). A small minority (10%) lost business and
travel cards. Most concerning 2 per cent admitted to carrying their PIN numbers, which
would put them at risk of cash machine, retail and card-not-present fraud. The success
When we of Chip and PIN in recent years has dramatically reduced these types of fraud, but this
looked at the
type of secure verification is obviously compromised when a PIN is written down and
carried. Consumers also risk liability for any fraud losses as they will not have taken
amount of reasonable care.
available credit
Q: How much cash was in your wallet...?
held by people
120
who had their
100
wallet/purse 80
stolen £
60
the average 40
was £7,401 20 Total
Mean
£85.23
Male £84.92
Female £85.36
0
18-24 25-34 35-44 45-54 55-64 65+
All respondants whose wallet/purse
was stolen and had cash in it
UK Lost and Stolen Wallets August 2010
8. 8
Q: How much credit was in your wallet...?
12000
10000
8000
£
6000
4000
Mean
2000 Total £7,401
Male £7,547
Female £7,310
0
18-24 25-34 35-44 45-54 55-64 65+
All respondants whose wallet/purse
was stolen and had credit in it
UK Lost and Stolen Wallets August 2010
9. 9
Not surprisingly the act of being robbed was the most stressful part of the
experience
When we questioned people about their experience of being robbed, not surprisingly the
actual act of being robbed (42%) was considered the most stressful part of the experience.
There was little variance between men and women, however, those aged 55+ were more
likely to report this as the most stressful part of the experience.
With the average wallet/purse containing more than £85 cash and £7,400 in available
credit, concerns over fraudulent transactions (37%) and loss of cash (36%) were also high.
The process of calling banks to cancel and replace payment cards was also rated as a
stressful experience (32%); perhaps because any delay is associated with the probability
of fraud occurring. Those aged 24-34 were the most likely to say cancelling payment cards
was stressful (39%).
Respondents aged 55+ were the most concerned about fraud on their stolen payment
cards.
The loss of irreplaceable items was considered less stressful with only 17% thinking
it merited a mention. Only 1% said the act of theft was not stressful.
Q: When you had your wallet/purse stolen, which of the following three best describes what you
found the most stressful part of the experience?
50
40
30
20
10
0
All respondants who had
their wallet/purse stolen
UK Lost and Stolen Wallets August 2010
10. 10
The average person will spend over 110 hours –or four and a half days –
replacing their personal mementos and debit/credit cards
When we asked respondents to rate the most stressful part of the theft, calling the banks
to cancel and reorder payment cards rated just behind the actual act of being robbed, fear
of fraud and loss of cash. This could be explained by the fact that any delay in cancelling
the cards could result in more fraudulent transactions.
However, one consideration for why people say the process of reporting their cards lost/
stolen is so stressful is that it took them, on average, 110.77 hours to replace all the items
in their wallet/purse that had gone missing. This includes bank cards, driving licence,
membership, store and loyalty cards, national insurance cards, bus passes and other
personal information.
The value of a card loss cancellation and reporting service is therefore clear; not only to
One ensure fraudulent spend is kept to a minimum, but to assist with the quick replacement of
other items like passports, membership and store cards and driving licence.
consideration
why people
say the
Q: How much time did you approximately spend replacing items in your wallet/purse?
process of 120
reporting their 100
cards lost/
stolen is so 80
hours
stressful is that 60
it took them, 40
on average,
110 hours to 20
replace all the 0
18-24 25-34 35-44 45-54 55-64 65+
items in their Mean All respondants who had their
wallet/purse Total
Male
Female
110.72
107.27
113.08
wallet/purse stolen
UK Lost and Stolen Wallets August 2010
11. 11
Vast majority of people claim they would either hand in, or try to track
down, an owner of a lost wallet/purse
With nine million wallets and purses lost and stolen in the last five years, and nearly 1.5
million in the last six months alone, we thought it interesting to see what happens when
they are found.
According to the research 94 per cent of people would either take it to a local police
station, hand it in to the location it was found i.e. a shop/restaurant, attempt to contact the
owner directly or deliver the item to the owner in person. Only 2 per cent say they would
keep the content and either discard the item or return it empty.
In order to put this claimed honesty to the ‘test’ we conducted a nationwide ‘live’ social
experiment that tested people’s honesty. And the results were very different to what
people had said via the ICM research. Only two in ten ‘accidentally’ dropped wallets were
returned to their rightful owners and only half of those (55%) contained the original sum of
money. Of 100 wallets/purses dropped containing a total sum of £1,000, only £120 was
returned.
Of all the cities investigated in the experiment, Birmingham faired the worse – one in four
wallets/purses were returned and all were completely empty. Next came Glasgow, Cardiff
and Leeds. Surprisingly London fared better with all those wallets/purses which were
returned still containing the original sum of money.
The research also revealed that people are far likelier to have their wallet or purse returned
if it is lost in a museum as around half (53 per cent) ‘dropped’ in a museum were handed
in. Those ‘lost’ in shopping centres also stand a better chance with a third being returned.
Consumers eating out or travelling on public transport need to be careful – none of the
wallets/purses placed in cafes or on public transport were returned to their owners.
What the social experiment shows us is that there is an inconsistency between claimed
and actual behaviour and that if you lose your wallet/purse you only have small i.e.
20 per cent chance of seeing it again.
UK Lost and Stolen Wallets August 2010
12. 12
Q: If you found someone else’s wallet/purse, what would you do?
35 33%
31%
30
22%
20
10
8%
5
1% 1% 1% 1% 2%
0
65+
All respondants who have found
e someone else’s wallet/purse
3 Mean
Took it to the local police station
Handed it in to staff at the location it was found i.e shop manager
Attempted to contact the owner directly to arrange for them to collect item/send it to them
Delivered the item to owner’s address in person
Kept cash/credit cards and kept or discarded item
Kept cash/credit cards and returned item
Left it where I found it
Other
Don’t know
ICM ‘live’ social experience
City Number of Proportion Number of Proportion Total
wallets reported wallets containing amount of
reported (from a total reported money money
of 20) containing (from a total reported
money of 20)
Birmingham 5 25% 0 0% £0
Cardiff 4 20% 3 15% £30
Glasgow 4 20% 2 10% £20
Leeds 5 25% 3 15% £30
London 4 20% 4 20% £40
Total 22 22% (total 12 12% (total £120
100) 100)
UK Lost and Stolen Wallets August 2010
13. 13
The majority of people never see their lost or stolen wallets/purses again
Consistent with the findings of the social experiment, the vast majority (77%) of people
who had their wallet lost/stolen did not have it returned to them.
There was marginal variance between age groups and gender, but no real trend.
Regionally people in Norwich, Southampton and Newcastle were the most likely to see
their wallets again and those in Hull, Edinburgh and Cardiff the least likely.
Q: Did you ever get your wallet/purse back?
100%
100
94%
92%
88%
82%
78%
79%
79%
80
76%
76%
73%
72%
70%
67%
66%
59%
60
54%
55%
46%
45%
41%
40
34%
33%
30%
28%
27%
24%
24%
22%
21%
21%
20
18%
The vast 12%
8%
6%
majority of 0
0%
Glasgow
Edinburgh
Newcastle
Leeds
Hull
Sheffield
Manchester
Liverpool
Nottingham
Birmingham
Norwich
Milton Keynes
Brighton
London
Southampton
Bristol
Plymouth
Cardiff
people who
had their No
wallets lost/ Yes
All respondants who
had their wallet/purse stolen
stolen did not
have it
returned to
them
UK Lost and Stolen Wallets August 2010
14. 14
Card fraud is a common consequence of loss/theft
Of those who lost their wallet/purse or had it stolen, one in five claims to have fallen victim
to card fraud and one in twenty to identity fraud.
Men were marginally more likely to report card and identity fraud than women.
Demographically those aged 18-24 were the most likely to report card and identity fraud.
Elsewhere 37% of people were concerned about fraudulent transactions when they had
their wallet/purse stolen.
These figures are consistent with research previously conducted by CPP that reports that
as quarter of people claim to have fallen victim to some form of card or identity fraud.
The types of card fraud associated with lost and stolen cards fall into two main categories
– phone, internet and mail order (card-not-present or CNP) fraud and lost and stolen
card fraud.
CNP fraud commonly involves the theft of genuine card details or the card itself that are
then used to make purchases commonly over the internet but also via mail order or the
phone. The problem in countering this fraud is that neither the card, nor the cardholder is
present when the transaction happens. The last ten years have seen massive growth of
CNP fraud although 2009 saw CNP losses fall for the first time. The use of cardholder
authentication schemes including Verified by Visa and MasterCard SecureCode by online
retailers and card holders has helped as have the increasing use of sophisticated fraud
screening detection tools by banks and retailers. In 2009 losses from CNP fraud stood
at £266.4m.
Elsewhere lost and stolen card fraud happens in shops or restaurants that do not have
Chip and PIN verification or where the PIN has been compromised. Due to the success
of Chip and PIN this type of fraud is now at its lowest level since 1991. As well as Chip
and PIN the use of intelligent computer systems to track customers accounts for unusual
spending patterns and an industry hot card file enabling retailers to check whether a card
has been reported lost or stolen have been central to the reduction of fraud losses in 2009.
UK Lost and Stolen Wallets August 2010
15. 15
Q: As a result of your wallet/purse being lost or stolen have you experienced any of the below?
100
80
60
40
20
0
All respondants who had their
wallet/purse stolen
UK Lost and Stolen Wallets August 2010
16. 16
1.5 Conclusion
When we looked at what items had been lost and stolen the results were as expected –
cash, debit/credit cards, driving licence, store and membership cards and personal items
like photos etc. Worryingly a small minority confessed to carrying their PIN numbers
around putting them at increased risk of ATM and retailer fraud, plus liability of any losses
incurred due to taking unreasonable care.
Trying to quantify the fraud risk, one in five claimed to have been a victim of card fraud
and one in twenty identity fraud. The types of fraud associated with lost wallets/purses are
most commonly fraud on lost and stolen cards in a retail environment or CNP fraud most
notably online transactions. The introduction of secure verification schemes like Verified by
Visa and MasterCard SecureCode have helped to reduce unauthorised transactions online,
but nothing should be taken for granted. Depending on what items were lost/stolen, other
possible consequences could include falling victim to identity fraud with people falling
victim to false impersonation in order to take over their accounts or open up new lines of
credit in their name.
When we looked at the amount of cash lost due to the theft of wallets/purses the average
figure was £85 per person, collectively amounting to £765 million over the last five years.
There was also a significant fraud risk in that over £7,000 was available in credit and
A small reiterated the importance of cancelling lost and stolen cards quickly.
minority Not surprisingly the ‘act’ of being robbed was considered the most stressful part of the
whole experience. Concerns over lost cash (the £85) and the risk of fraud (the £7,000
confessed to credit) were also deemed stressful. The process of calling banks to cancel and replace
payment cards was also rated by a third of people as a stressful experience; perhaps
carrying PIN because any perceived delay was thought to increase the propensity of fraud occurring.
The fact that many people are unlikely to carry loss reporting numbers with them and
numbers having to remember which cards they were carrying is only likely to increase any stress
associated with calling their banks. The actual act of speaking with the financial institution
around putting is unlikely to be considered stressful.
Finally, respondents who had their wallets/purses stolen reported that on average they
them at spend 110 hours – equivalent to four and a half days – replacing their personal mementos,
increased risk payment cards and other lost items. The value in pre-registering payment cards and other
identifying documents like passport and driving licence details is brought into sharp focus
of ATM and when you consider the consequences of any loss or theft.
October will see the next set of fraud losses reported by The UK Cards Association and it
retailer fraud will be interesting to see if the reduction of fraud in 2009 was a temporary blip after
double-digit growth in 2007 and 2008, or the start of a reduction thanks to industry
plus liability of initiatives. Initiatives like the Dedicated Cheque and Plastic Crime Unit who target
organised criminal gangs, the Industry Hot Card File that contains information on more
any losses than 6 million cards reported lost and stolen, and the Fraud Intelligence Sharing System
that shares information on all confirmed, attempted and shared fraud.
Whatever the fraud trend, however, it is clear people do lose their wallets and purses and
do have them stolen and the inconvenience and stress associated with any such loss is
real and significant. Anything consumers can do to plan for such an eventuality will help as
they are unlikely to ever see their missing property again despite claims to the contrary.
UK Lost and Stolen Wallets August 2010
17. 17
1.6 Avoiding Card Fraud
Kerry D’Souza, is a card fraud expert at CPP and offers the following advice to consumers
to help protect themselves from payment card fraudsters. Kerry has over ten years’
experience and is responsible for CPP’s industry-leading Card Protection product that
assists people in the event of lost and stolen payment cards.
Kerry is media trained across print and broadcast and is available for media interviews on
the issue of payment fraud.
Top tips
- Never let your payment cards out of sight in a shop or restaurant, as they risk
getting copied or cloned
- Only carry the cards you need in case you have your wallet/purse stolen.
And never carry payment cards loose in a bag or pocket
- Never write down your PIN, bank account details or password
- Make sure your post is secure. If you are waiting on new credit or debit cards,
know when to expect them
- When you enter your PIN in a shop or a cash machine, cover the number from
prying eyes or hidden cameras. Look out for skimming machines which can be
placed over the card slot and contact the police if you see anything suspicious
- Sign up to Verified by Visa or MasterCard SecureCode to prevent online fraud
- Never respond to unsolicited e-mails or phone calls asking for personal
information – your bank will never ask you to confirm your passwords or
account details
- If your cards are lost or stolen, cancel them immediately or sign up to a Card
Protection service that will cancel and reorder all your cards with just one
phone call from anywhere in the world
- Regularly check your bank statements to keep an eye on undetected fraud
- If you shop online make sure you have installed anti-virus software,
anti-phishing tools and an active firewall. Never use an unsecure website.
UK Lost and Stolen Wallets August 2010
18. 18
1.7 For further information please contact:
Nick Jones
Head of Communications
CPP Group Plc
Holgate Park
York YO26 4GA
Tel 01904 544 387
E-Mail nick.jones@cpp.co.uk
Web www.cppgroupplc.com
UK Lost and Stolen Wallets August 2010
19. 19
CPP is an award- 1.8 About CPPGroup Plc
winning organisation:
The CPPGroup Plc (CPP) is an international Life Assistance business offering bespoke
- Finalist in the National
management solutions to multi-sector business partners designed to enhance their
Insurance Fraud Awards,
Counter Fraud Initiative
customer revenue, engagement and loyalty, whilst at the same time reducing costs to
of the Year category, 2009 deliver improved profitability.
- Finalist in the European This is underpinned by the delivery of a portfolio of complementary Life Assistance retail
Contact Centre Awards, products, designed to help our mutual customers cope with the anxieties associated with
Large Team and Advisor of the challenges and opportunities of everyday life.
the Year categories, 2009
Whether our customers have lost their wallets, been a victim of identity fraud or looking
- Named in the for lifestyle perks, CPP can help remove the hassle from their lives leaving them free to
Sunday Times 2008
enjoy life. Globally, our Life Assistance products and services are designed to simplify the
PricewaterhouseCoopers
Profit Track 100
complexities of everyday living whether these affect personal finances, home, travel,
personal data or future plans. When it really matters, Life Assistance enables people to live
- Finalists in the National life and worry less.
Business Awards, 3i Growth
Strategy category, 2008 Established in 1980, CPP has 10 million customers and more than 200 business partners
across Europe, North and South America and Asia Pacific and employs 1,900 employees
- Finalist in the National
Business Awards, Business
who handle millions of sales and service conversations each year.
of the Year category, 2007, In 2009, Group revenue was £292.1 million, an increase of more than 12 per cent over the
2009 and Highly
previous year.
Commended in 2008
- Named in the Sunday
In March 2010, CPP debuted on the London Stock Exchange (LSE).
Times 2006, 2007, 2008 What We Do:
and 2009 HSBC Top Track
250 companies CPP provides a range of assistance products and services that allow our business partners
- Regional winner of the to forge closer relationships with their customers.
National Training Awards, We have a solution for many eventualities, including:
2007
- Insuring our customers’ mobile phones against loss, theft and damage
- Winner of the BITC Health,
Work and Well-Being - Protecting the payment cards in our customers’ wallets and purses, should
Award, 2007 these be lost or stolen
- Highly Commended in
- Providing assistance and protection if a customer’s keys are lost or stolen
the UK National Customer
Service Awards, 2006 - Providing advice, insurance and assistance to protect customers against the
- Winner of the Tamworth insidious crime of identity fraud
Community Involvement - Assisting customers with their travel needs be it an emergency (for example
Award, 2006. Finalist in 2008
lost passport), or basic translation service
- Highly Commended in
The Press Best Link - Monitoring the credit status of our customers
Between Business and - Provision of packaged services to business partners’ customers
Education, 2005 and 2006.
Winner in 2007
- Finalist in the National
Business Awards,
For more information on CPP visit:
Innovation category, 2005
www.cppgroupplc.com
UK Lost and Stolen Wallets August 2010