Banks fund £3m card fraud squad

The banking industry today announced it will provide £3 million a year to fund a special anti-card fraud police unit.

The move follows a two-year trial of the Dedicated Cheque and Plastic Crime Unit which prevented fraud worth about £65 million involving stolen credit and debit cards or card details.

The unit, made up of officers seconded from the City of London and Metropolitan Police forces, was set up in April 2002 to target the organised gangs behind most of the country's card fraud, which cost the industry £402 million last year.

It is backed by intelligence and administrative support from the banking industry, and officers also work with other UK and international police forces.

Work by the unit led to 171 arrests and 52 convictions. More than 36,000 stolen cards or card details were recovered.

Sandra Quinn, of the Association of Payment Clearing Services, which represents the banking industry, said: "Life for the card fraudster is being made increasingly difficult thanks to this kind of investment."