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Internet fraud in the UK could be around £500 million a year

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Bank industry figures published earlier this year show "card not present" losses for internet, phone and mail order crime were £290.5 million last year. But a BBC News investigation found that £500 million of fraud took place when failed attempts were taken into account.

Posing as computer hackers, two BBC News journalists infiltrated a website selling thousands of card details which had been stolen online from small internet retailers.
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