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Holiday card fraud on the rise

June 6, 2007 by admin  
Filed under News, News-Credit-Cards

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Travellers are being warned to be extremely vigilant when using their debit or credit cards abroad as card fraud continues to soar.

Research by InsureandGo shows that the number of fraud incidents has increased since Chip and Pin technology was introduced last February.

The firm claims that card fraud grew from an average of 220,000 incidences each year to over 400,000 in the last 12 months.

“As our research shows, holiday card fraud is a massive problem and is continuing to get worse,” said Perry Wilson from InsureandGo.

“It has become more common for people to have their cards or details stolen, or money stolen or skimmed from their accounts.”

The insurance firm is warning travellers to take extra precautions when abroad but says that it believes the answer to the problem may lie in a change of attitude.

It has plans to introduce a new pre-paid travel card that is loaded with money and is covered if fraud takes place.

It means that holidaymakers will have the money protected and will also prevent fraudsters from getting to their other funds.

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