The banking arm of UK supermarket Sainsbury's has reportedly unveiled plans to invest GBP3.5 million in technology to help counter ATM fraud. This comes as a new report has found the UK to be the card fraud capital of Europe.
According to Namnews, Sainsbury’s Bank will make the multi-million pound investment to combat the growing problem of card skimming at ATMs. Among other things, the money will go towards anti-skimming devices and extensive CCTV monitoring at Sainsbury’s cash machines.
Word of Sainsbury’s security upgrade comes as a new report from the European Security Transport Association has named the UK as the card fraud capital of Europe, with UK citizens almost twice as likely to become a victim of card fraud than their counterparts in seven other European countries.
The report also claimed that around a third of European consumers affected by card fraud, and a quarter of British card fraud victims, now prefer to pay with cash.