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Fraud threatens payments system plan

By Nikki Tait in Brussels

Published: April 28 2008 09:04 | Last updated: April 28 2008 09:04

Credit and debit card fraud threatens to obstruct the development of a cross-border payments system in Europe, and in some cases lax security measures by merchants and card issuers are adding to the problem.

A European Commission report, due to be published on Monday, finds that while some types of payment fraud are reducing as a result of action by banks, other kinds of scams – notably internet-based – are on the rise.

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