CREDIT card fraud and online banking fraud losses have fallen, says a new report.
But cheque fraud and phone banking fraud losses rose in the first half of 2011, according to the figures from Financial Fraud Action UK.
Simon Langley, of accountancy firm PricewaterhouseCoopers, said: “The fact that the banks are doing such a good job in protecting their customers and themselves from online fraud, means that organised criminals are now moving more towards other, possibly softer targets.
“It is also important to note that cyber-crime is global – as are many of the banks that criminals target.
“So figures based solely on UK fraud might not tell the whole story.”