Technology has helped slash the amount lost through credit and debit card fraud.
The UK Cards Association says the amount of money lost due to fraud last year fell by 7 percent to £341 million, which is the lowest level for 11 years. It was the third year in a row that card fraud had fallen, with a drop of 44 percent since losses peaked in 2008.
The dip in fraud was helped by the use of online card verification software, such as Verified by Visa and MasterCard SecureCode, and the increased use of chip-and-pin technology abroad, said the UK Cards Association.
The biggest losses were down to "card not present" fraud, where goods and services are ordered over the phone, by post or over the internet. This accounted for £221m - nearly two-thirds of all losses sustained.
DCI Paul Barnard, who leads the industry-sponsored police cheque and plastic crime unit, said: "As technological advances have made our payments more secure, we've seen a spike in more simplistic crimes.
"Many scams involve customers being conned into handing over their cards and PINs, or their telephone banking security details by someone calling, pretending to be their bank or the police."
Last year there was a 24 percent fall in the amount of fraud as a result of cards being faked.
Fraud losses against online banking accounts fell by 24 percent last year to £35 million, while losses involving telephone banking rose by 32 percent to £17m.