Menu
10/11/2003
Watchdog issues advice on avoiding credit card fraud
The UK credit card watchdog has launched a new initiative to help protect shoppers and retailers from fraudulent phone, fax, internet credit card use as 'card not present' mail order fraud now costs £110 million-a-year.
More than eight out of 10 British shoppers who use debit or credit cards are expected to turn to the “new High Street” for their Christmas shopping this year – buying goods over the internet or by mail order, phone or fax. But many risk falling prey to the £300,000-a-day fraud problem because they are not following simple steps to protect themselves, industry specialists warned today.
Fraud on ‘card-not-present’ purchases has jumped by a third over the last two years to £109.6 million, and it is now the second-largest element of the £411.6 million of fraud on UK-issued debit and credit cards, according to statistics released today.
The latest report, released today by the Association for Payment Clearing Services’ (APACS) Card Watch showed many shoppers are still ignoring basic security precautions when using their cards:
“But there are simple steps you can take to protect yourselves. Check your statements carefully for fraudulent transactions. Burn or shred those statements – and card receipts - when you have finished with them. Don’t let your card out of your sight – and don’t let anyone else use your card or have sight of your card details.”
APACS has published new training and education materials this week for retailers worried about such fraud, outlining key fraud prevention tools and advice.
Banks and retailers are currently rolling out 'chip and PIN', a new initiative in which signatures will be replaced by four-digit personal identification numbers (PIN) for card transactions.
(SP)
More than eight out of 10 British shoppers who use debit or credit cards are expected to turn to the “new High Street” for their Christmas shopping this year – buying goods over the internet or by mail order, phone or fax. But many risk falling prey to the £300,000-a-day fraud problem because they are not following simple steps to protect themselves, industry specialists warned today.
Fraud on ‘card-not-present’ purchases has jumped by a third over the last two years to £109.6 million, and it is now the second-largest element of the £411.6 million of fraud on UK-issued debit and credit cards, according to statistics released today.
The latest report, released today by the Association for Payment Clearing Services’ (APACS) Card Watch showed many shoppers are still ignoring basic security precautions when using their cards:
- One in three never shred or burn their bank or credit card statements or receipts when they are finished with them;
- One in five have let others use their card to make purchases over the Internet, by mail order, by phone or by fax;
- One in five check their bank and credit card statements only sometimes, rarely or never;
- Only one in six are unconcerned at letting their card out of their sight when shopping.
“But there are simple steps you can take to protect yourselves. Check your statements carefully for fraudulent transactions. Burn or shred those statements – and card receipts - when you have finished with them. Don’t let your card out of your sight – and don’t let anyone else use your card or have sight of your card details.”
APACS has published new training and education materials this week for retailers worried about such fraud, outlining key fraud prevention tools and advice.
Banks and retailers are currently rolling out 'chip and PIN', a new initiative in which signatures will be replaced by four-digit personal identification numbers (PIN) for card transactions.
(SP)
Related UK National News Stories
Click here for the latest headlines.
08 October 2003
M&S backtracks over &More credit card after OFT probe
Marks and Spencer Financial Services (MSFS) has changed the way it will offer to replace its store cards by the &More credit card after action by the Office of Fair Trading. MSFS had sent out letters to many card holders saying that its store card would automatically be replaced by the &More credit card unless card holders objected.
M&S backtracks over &More credit card after OFT probe
Marks and Spencer Financial Services (MSFS) has changed the way it will offer to replace its store cards by the &More credit card after action by the Office of Fair Trading. MSFS had sent out letters to many card holders saying that its store card would automatically be replaced by the &More credit card unless card holders objected.
22 August 2013
Customers To Be Reimbursed Following Mis-Sold CPP Card Protection
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers, that will pave the way for redress to be paid to customers who were mis-sold CPP's Card Protection and Identity Protection policies.
Customers To Be Reimbursed Following Mis-Sold CPP Card Protection
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers, that will pave the way for redress to be paid to customers who were mis-sold CPP's Card Protection and Identity Protection policies.
19 October 2010
E-crime Officers Arrest Suspected 'Money Mule'
Ahead of National Identity Fraud Prevention week, Metropolitan Police Service (MPS) Police Central e-crime Unit (PCeU) has arrested a suspected counterfeit credit card manufacturer.
E-crime Officers Arrest Suspected 'Money Mule'
Ahead of National Identity Fraud Prevention week, Metropolitan Police Service (MPS) Police Central e-crime Unit (PCeU) has arrested a suspected counterfeit credit card manufacturer.
17 November 2011
Car Fuel By Credit Card 'Costs More'
Nearly two thirds of domestic petrol purchases are made by credit card, according to new research by a credit group. The findings by Equifax reveal that more that 58% of us use credit cards to pay for our fuel, just as a further rise in petrol prices is to be debated by MPs in the House of Commons.
Car Fuel By Credit Card 'Costs More'
Nearly two thirds of domestic petrol purchases are made by credit card, according to new research by a credit group. The findings by Equifax reveal that more that 58% of us use credit cards to pay for our fuel, just as a further rise in petrol prices is to be debated by MPs in the House of Commons.
10 October 2005
Chip and PIN reducing card fraud
Chip and PIN cash cards are helping to reduce credit and debit card fraud in the UK, a banking body has reported. The Association of Payment Clearing Services (Apacs) reported that the cost of counterfeit and lost and stolen card fraud between January and June 2005 was £89.9 million – a drop of nearly a third from £126.
Chip and PIN reducing card fraud
Chip and PIN cash cards are helping to reduce credit and debit card fraud in the UK, a banking body has reported. The Association of Payment Clearing Services (Apacs) reported that the cost of counterfeit and lost and stolen card fraud between January and June 2005 was £89.9 million – a drop of nearly a third from £126.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
