The RCMP is warning merchants to be aware of increased counterfeit and fraudulent activity this holiday season.
It is launching a fraud prevention program in partnership with the Bank of Canada, Interac, various members of the Canadian Bankers Association and other law enforcement agencies aimed at helping merchants stay aware of the latest trends in fraudulent activity.
Losses from fraudulent debit and credit card transactions has continued to increase over the years. Interac reported in 2008 that 148,000 debit card holders were the victim of fraud, losing a total of $104 million. That is a 73% increase from the $60 million in total losses in 2004 impacting 49,000 victims.
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