Hourly bank card codes made to foil online fraudsters

♦ Banks are considering adopting debit and credit cards whose security code changes every hour to keep ahead of online fraudsters.

UK financial institutions are looking at the technology, which was unveiled in France last year.

The new cards replace the printed three-digit security code on the back of the card with a mini-screen that displays a random code.

A National Audit Office report has warned that police forces are not doing enough to tackle the threat of online fraud. It said that the overall cost of fraud in 2016 was £10billion to individuals and £144billion to the private sector as a whole.