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Which? warns of card fraud - Financial news from Quotesure - 03/11/2005


Cardholders are being warned to protect themselves against fraud.
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Which? warns of card fraud

Christmas is fast approaching and consumer group Which? is advising all credit card holding Brits to take extra care with their card details.

According to the company, 60 per cent of cardholders are making credit card fraud easy by not taking adequate security measures against it.

It says that a quarter of Brits use the same pin number for different accounts, 20 per cent don't check their bank statements regularly and one in five would give out information over the phone if they thought it was their bank or credit card company.

£73 million was stolen on credit cards last year and the cost of credit card fraud is passed onto consumers, currently standing at £12 per year. Consumers are being asked to help bring this figure down.

Malcolm Coles editor of Which?, says: 'By taking some basic precautions you can dramatically reduce your chances of becoming a victim of card fraud.

'But banks themselves are falling down on security too. They should be doing much more to cut this type of crime, rather than just passing the costs on to their customers.'

Which? advises customers to be careful who they give out information to, for example never reply to 'phishing' emails, asking for details and don’t give out information over the phone.

You should also shred any financial documents or unwanted card receipts.

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