Question: Chip and PIN, the new system to combat credit card fraud, has received the government's support. Why?

Hazel Blears: Chip and PIN is an excellent example of finance and retail industries working together to prevent crime.

The initiative has the potential to significantly reduce the level of credit card fraud.

Question: What benefits are the government expecting from Chip and PIN?

Hazel Blears: Chip and PIN tackles counterfeit and lost and stolen card fraud. This together currently accounts for 60 per cent of card fraud losses.

The banking industry predicts that by 2005, Chip and PIN will have halved the predicted level of credit card fraud.

Without Chip and PIN, credit card fraud is expected to rise to £800 million by 2005.

Question: How dies this fit into wider government action against business crime?

Hazel Blears: The Home Office Business Crime Strategy envisages working in partnership with businesses.

One of the six work streams is to raise businesses' awareness of their capacity and responsibility to reduce crime.

With the Chip and Pin initiative, businesses have taken a clear lead in implementing crime reduction measures.

Question: What key message would you like to give?

Hazel Blears: Chip and PIN is an important weapon against plastic card fraud, which has also proved to be an efficient, secure and customer friendly system.

I encourage everyone to play their part in introducing chip and PIN nationwide as quickly as possible.