60% still vulnerable to fraud, says Which?

Despite extensive media coverage and long term awareness campaigns, far too many UK credit card holders are still leaving themselves open to fraud, Which? has warned.

Sixty per cent of card users are failing to take even elementary steps to protect themselves against card fraud ñ leaving criminals £500 million richer, a huge 600 per cent increase from 1999.

And even credit card holders not directly targeted are paying for it, with every card user in the country paying £12 in increased charges to cover the costs of fraud.

Of the card users surveyed by Which?, it found that 23 per cent used the same pin number for more than one account. Twenty one per cent said that they would give their account number to a caller claiming to be from their bank or credit company.

Almost 20 per cent said that they did not check their statements to see what was outgoing. “By taking some basic precautions you can dramatically reduce your chances of becoming a victim of card fraud,” said Malcolm Coles, Which? editor.

Banks are also failing their customers with lax security, added Mr Coles, with £73 million being taken from pre activated cards stolen in transit.

“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,” he said.

© Adfero Ltd

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