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Rise in bank card fraud recorded

May 15, 2010 by Reno  
Filed under News, News-Credit-Cards

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Britain’s fraud prevention agency, Cifas, has reported an increase in card fraud in the first three months of this year, with many cardholders finding themselves at the receiving end of . The agency claimed that it recorded around 27,000 victims of this type of fraud during the first quarter of the year, reflecting an increase of 6000 or 23 percent.

There has also been a 45 percent increase in the number of cases where the fraud has been highlighted when it too late and the fraudsters have already got away with the cash. Fraudsters are said to be using a range of tools and methods of getting hold of details of customers, including social networking sites such as Facebook in cases where consumers are careless with their personal information.

Consumer campaign group Which? said that many people were increasing the risk of becoming victims of card fraud by writing down their PIN because they cannot remember it. Some people have even given their PIN to other people that they feel they can trust, but this can also increase the risk of falling victim to this type of fraud.

In a poll nearly 10 percent of people that admitted to writing down their PIN said that they had a copy of it written down at their workplace. The campaign group said that if cardholders were found to have been careless with their PIN or personal details then there was no guarantee that they would be reimbursed if they fell victim to card fraud.

An official from Which? said: ‘The results show that too many consumers are putting their finances in jeopardy by not taking simple precautions. Writing down your Pin is like leaving your door open when you leave the house.’

Tags: Cifas, identity theft, which, fraud, credit card fraud

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