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Fraud warning not being heeded

January 10, 2007 by admin  
Filed under News, News-Credit-Cards

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Millions of credit card holders in the UK are leaving themselves open to fraud.

Despite continual warnings about the dangers of , many people are not heeding the advice, says Morgan Stanley Consumer Banking.

The most common mistake made by British people is failing to shred documents such as credit card statements when throwing them away.

Figures from Morgan Stanley show that 40 per cent of people fail to do this, with that number rising to 59 per cent among people under 30.

Another risk taken by many people (27 per cent) is using the same pin number for a variety of different cards and accounts, while the third most common (12 per cent) is storing pins on personal computers or laptops.

“The findings fuel concerns that Britons are not taking heed of warnings to protect themselves,” said Patrick Muir, marketing director at Morgan Stanley Consumer Banking.

“There has been a lot of attention placed on the issue of ID theft but, worryingly, many people still don’t believe it could happen to them.”

Morgan Stanley found that younger people (under thirties) are the least likely to be aware that they are the victim of ID theft as 45 per cent do not check their statements.

Tags: Marketing, identity theft, Financial economics, cards, director, Stanley Consumer Banking.The, continual warnings, Caterpillar

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