Despite a Covid-induced slump in travel numbers, the number of online card fraud incidents on Transport for London’s (TfL) railway network spiked in 2021.
According to TfL data obtained through a Freedom of Information (FOI) request, the number of online fraud incidents increased 31.8 per cent to 655 in 2021, going up from 497 a year prior.
The frauds’ total value also went up, increasing by 7.2 per cent to £16,436 while losses per incident fell to £25.09 on average.
“As the transit industry moves to prioritise customer convenience, cyber criminals are keen to exploit new payment technologies and customer vulnerabilities – with every transaction providing a new opportunity for fraudsters,” said Gadi Mazor, chief executive of behavioural insights firm BioCatch, who filed the FOI.
While the number of incidents at self-service ticket machines decreased between 2020 and 2021, the average loss per incident grew 23.3 per cent, from an average of £72.77 to £89.71.