Fraudsters target UK credit card users
Credit card fraud has hit new heights, with London being named as the credit card fraud capital of Britain for the second year running. Figures released by insurance company CPP showed that 38% of people had been victims of credit card fraud in 2008. In 12 months, almost three million people in the capital were affected " a third of all cases in Britain and a 10% jump on previous figures. The average amount stolen was 650, although some had lost considerably more. Often, victims were only made aware of the crime when they had been contacted by their bank and hadnt been aware up until that point that their details had been stolen.
These frightening statistics show how fraudsters are making life difficult for innocent people and just how easily they can get hold of personal details, pin numbers and credit card information. Once they have this information it only takes a very short time for them to steal money from an account and then disappear into the Internet. Online fraud is a growing problem with many people falling victim to emails pretending to be from legitimate sources such as the customers bank. Responding to these emails is a sure-fire way of running up a credit card bill very quickly or seeing a bank account drain of funds before your eyes.
However, there is a very easy way to protect yourself against this kind of attack and that is never respond to any email asking you to confirm sensitive information. No bank will ever ask you to do this legitimately either by phone or by email, so you can be sure those that do are scams. If you have any doubts, contact your bank directly. The growth of online auction sites and Internet shopping has given criminals a new route into peoples personal details, but again it is fairly easy to carry out a few basic checks to ensure that the site you are using is secure. A secure site should have a URL address that includes the prefix https and a padlock icon in the bottom right hand corner of the screen. If these are missing then the site is unsecured and so are your credit card details.
21% of credit card fraud is carried out by skimming the details electronically when a credit or debit card is used in an automatic cash dispenser. Although these methods are becoming increasingly complex and difficult to spot, any ATM machine that carries any indication of being tampered with should be avoided and the bank notified of your suspicions. A simple trick of covering the keypad with your hand whilst you type in your pin number will shield it from being picked up by any hidden cameras and check that no-one is looking over your shoulder as you type in your code.
Many people make the mistake of having one password for all their secure sites or Internet activities. Once the fraudsters know this password it is easy for them to obtain all the information they need to steal an identity. By ensuring that your passwords are secure you can make life much more difficult for opportunist fraudsters. These are all simple actions that anyone can employ to defeat the online criminal, but what about the banks? Many people worry that their details are not being kept secure by institutions and financial lenders (especially after a plethora of reports about sacks full of personal details left out casually for rubbish collection by high street banks).
After a flurry of reports about personal banking details being left in rubbish bags for refuse collection, the banks and financial institutions are now much more conscientious over the security of their customers details. They are also working much more closely with the Police serious fraud and high-tech units in an attempt to combat the rising tide of fraud and identity theft. It is a continuous battle as many of the fraudsters operate outside the UK. But by pulling together in a concerted effort perhaps the UK can shake off its reputation of being an easy target for the cyber-criminals and fraudsters and secure the general publics details from prying eyes.
These frightening statistics show how fraudsters are making life difficult for innocent people and just how easily they can get hold of personal details, pin numbers and credit card information. Once they have this information it only takes a very short time for them to steal money from an account and then disappear into the Internet. Online fraud is a growing problem with many people falling victim to emails pretending to be from legitimate sources such as the customers bank. Responding to these emails is a sure-fire way of running up a credit card bill very quickly or seeing a bank account drain of funds before your eyes.
However, there is a very easy way to protect yourself against this kind of attack and that is never respond to any email asking you to confirm sensitive information. No bank will ever ask you to do this legitimately either by phone or by email, so you can be sure those that do are scams. If you have any doubts, contact your bank directly. The growth of online auction sites and Internet shopping has given criminals a new route into peoples personal details, but again it is fairly easy to carry out a few basic checks to ensure that the site you are using is secure. A secure site should have a URL address that includes the prefix https and a padlock icon in the bottom right hand corner of the screen. If these are missing then the site is unsecured and so are your credit card details.
21% of credit card fraud is carried out by skimming the details electronically when a credit or debit card is used in an automatic cash dispenser. Although these methods are becoming increasingly complex and difficult to spot, any ATM machine that carries any indication of being tampered with should be avoided and the bank notified of your suspicions. A simple trick of covering the keypad with your hand whilst you type in your pin number will shield it from being picked up by any hidden cameras and check that no-one is looking over your shoulder as you type in your code.
Many people make the mistake of having one password for all their secure sites or Internet activities. Once the fraudsters know this password it is easy for them to obtain all the information they need to steal an identity. By ensuring that your passwords are secure you can make life much more difficult for opportunist fraudsters. These are all simple actions that anyone can employ to defeat the online criminal, but what about the banks? Many people worry that their details are not being kept secure by institutions and financial lenders (especially after a plethora of reports about sacks full of personal details left out casually for rubbish collection by high street banks).
After a flurry of reports about personal banking details being left in rubbish bags for refuse collection, the banks and financial institutions are now much more conscientious over the security of their customers details. They are also working much more closely with the Police serious fraud and high-tech units in an attempt to combat the rising tide of fraud and identity theft. It is a continuous battle as many of the fraudsters operate outside the UK. But by pulling together in a concerted effort perhaps the UK can shake off its reputation of being an easy target for the cyber-criminals and fraudsters and secure the general publics details from prying eyes.
About the Author:
James Gladstone is a financial writer who has written articles for various popular websites. You can find out more information on the credit card topic here.
posted by Credit Counseling at
5:16 AM
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