The annual British Crime Survey said there were 2.8 million cases of card
fraud last year, with the number of card holders who have been victims of
fraud doubling in that period.
But what should you do if you are one of the thousands people who is a victim
of card fraud every year?
Victims of card fraud are protected by the Banking Code, provided they have
not acted fraudulently and without reasonable care, such as keeping your PIN
(personal identification number) in your wallet with your card.
The recession has hit credit-card holders hard, with three-quarters of all
crimes involving telephone or internet transactions – otherwise known as CNP
(card not present) fraud. These types of purchases are not chip and
PIN-protected and can often be completed with details ordinarily found on
the card meaning easy pickings for thieves.
Fraudsters are targeting environments that are not protected by a chip or PIN
and people holidaying in countries that have not yet implemented the
technology are especially at risk. CNP fraud can also occur when a card has
been stolen or duplicated.
There has also been an increase in copied card fraud. Most copied card fraud,
also known as counterfeit card fraud, involves skimming, which is when your
card’s magnetic strip is copied and …
Read the original article at Telegraph
Related Posts
Tags: Car, Cards, consumer, finance, internet, Recession, UK
