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High Street bank Barclays is allowing customers to "turn off" their debit card to online purchases or set daily ATM limits to reduce scams. It believes that cardholders would be more protected from con-artists if they could block the card from remote purchases at certain times. The bank's app now includes an option to reduce daily ATM withdrawal limits, from the typical level of £300. Such a move would reduce any losses from thefts at cash machines. Fraud losses across all payment cards, remote banking and cheques in the UK totalled £769m in 2016, according to Financial Fraud Action, the industry's anti-fraud body - an increase of 2% on the previous year.
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