Fraudsters target UK credit card users
London has been named and shamed as the credit card fraud capital of the UK for the second year running, according to figures recently released. Insurance company CPP reported that 38% of the capitals credit card users had been the victim of fraud in 2008 " a jump of 10% on previous figures. In just 12 months nearly three million people had their identities stolen and their credit and debit cards scammed. This number constitutes a third of all credit card fraud in Britain and is on the rise. The average amount stolen was 650, although some people suffered much higher losses. Often completely unaware that they had been the victims of criminal activity, the first customers knew of the attack was when notified of it by their bank.
These worrying statistics show just how easy it is for determined criminals to get access to sensitive personal details, pin numbers and credit card information. Online fraud is of particular concern for many people as millions of very convincing but utterly fraudulent emails are sent to accounts every day, pretending to be from legitimate banks and asking for customers to confirm their details. These emails " known as phishing emails " look like the genuine article and once a customer has responded to the request their details are in the hands of the criminals and the bank account starts to empty very quickly.
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 the result of details being skimmed when a credit or debit card is inserted into an automatic cash dispenser or pin reader. Although these high-tech methods are becoming increasingly difficult to detect, any ATM machine or pin reader that looks suspicious (has damage around where the card is inserted, for example) should be avoided and your suspicions reported to the bank. Simply placing your hand over the keypad when typing in your pin number should shield it from prying eyes or secreted cameras.
One of the commonest mistakes people make is to have the same password for all their Internet activity. This is fine until that password becomes common knowledge to a fraudster. Avoid using obvious passwords such as pets names or birth dates as passwords " these are the first things that fraudsters will check and once they have access to your details it is easy for them to start using your credit card with impunity. The first you will know about it is a nasty shock when the next monthly bill arrives. However, by ensuring that your passwords are secure and unique you can foil the fraudsters before they take advantage of your credit card limit. These are all easily employed methods that anyone can use to beat the scammers, but what about the banks? What are they doing to ensure your details are safe?
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 worrying statistics show just how easy it is for determined criminals to get access to sensitive personal details, pin numbers and credit card information. Online fraud is of particular concern for many people as millions of very convincing but utterly fraudulent emails are sent to accounts every day, pretending to be from legitimate banks and asking for customers to confirm their details. These emails " known as phishing emails " look like the genuine article and once a customer has responded to the request their details are in the hands of the criminals and the bank account starts to empty very quickly.
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 the result of details being skimmed when a credit or debit card is inserted into an automatic cash dispenser or pin reader. Although these high-tech methods are becoming increasingly difficult to detect, any ATM machine or pin reader that looks suspicious (has damage around where the card is inserted, for example) should be avoided and your suspicions reported to the bank. Simply placing your hand over the keypad when typing in your pin number should shield it from prying eyes or secreted cameras.
One of the commonest mistakes people make is to have the same password for all their Internet activity. This is fine until that password becomes common knowledge to a fraudster. Avoid using obvious passwords such as pets names or birth dates as passwords " these are the first things that fraudsters will check and once they have access to your details it is easy for them to start using your credit card with impunity. The first you will know about it is a nasty shock when the next monthly bill arrives. However, by ensuring that your passwords are secure and unique you can foil the fraudsters before they take advantage of your credit card limit. These are all easily employed methods that anyone can use to beat the scammers, but what about the banks? What are they doing to ensure your details are safe?
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 writes for various popular websites about financial based topics. You can find out more information on the credit card topic here.
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