Dave writes up the latest on card fraud in Europe and UK and touches on the US.  As Simon points out in the comments, its a chilling read, and highlights that the slow and gradual shift to secure cards and terminals is just wrong. 

I have similar worries for North America as US sticks to mag stripe, and Canada to chip and mag stripe combined.  The opportunities for criminals are simply too great.

I didn’t want to write about fraud yet again, but… | Digital Money Forum

Total card fraud last year was UKP 535 million (about a billion dollars) but the half-yearly figures for 2008 are predicting a full year well in excess of UKP 600 million. The prospects of fraud reducing remain, I think, slightly gloomy.