There has been a 24% increase in the level of credit and debit card fraud in the last year.

In 2011, card fraud cost over €25m with most of the card fraud taking place online or over the telephone.

Nine out of ten fraudulent credit card transactions happened without the card being present - where the card number was used either online or over the phone.

Card skimming only accounted for 8% of credit card fraud.

A small number of fraudulent transactions happened with a lost or stolen card, or one that had been intercepted in the postal system.

Once the card details had been illegally accessed, almost half of the fraudulent spending took place in the UK (47%), with 18% of fraudulent transactions taking place in the US and 12% in Ireland.

Spending on credit and debit cards increased slightly last year, with a turnover of €23.6bn, compared with €22.8bn the year before. Gross card fraud accounted for €23.7 million last year, compared with €17.7 million in 2010.

Card issuers were able to recover almost 60% of the ripped off transactions either through refunds or chargebacks from retailers.

Traditionally fraud was carried out by copying credit card details, but last year showed debit card fraud had almost doubled.