Anti-fraud unit 'saves £315 million'

29 April 2009

The Dedicated Cheque and Plastic Crime Unit (DCPCU), a specialist anti-fraud unit of the UK police, has achieved more than £315 million ($463 million) in savings from reduced fraud activity since it was established in 2002, new figures reveal.

The unit, which is fully sponsored by the British banking industry, comprises officers from the Metropolitan and City of London police forces, who work in partnership with fraud investigators from the financial sector.

Since its inception, the unit has secured 240 convictions on fraud-related charges and recovered more than 45,000 counterfeit cards.

It has also recovered approximately 290,000 sets of compromised card numbers.

The head of the DCPCU, detective chief inspector John Folan, said the unit has become a "powerful asset" in the fight against fraud with the capability to "seriously disrupt" the organized gangs behind check and card fraud.

According to the UK payments association Apacs, losses from card fraud in the UK topped £609.9 million in 2008. Check fraud losses were $41.9 million and online banking fraud cost £52.5 million.

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