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Card fraud prevention

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by Janine Hart

30/12/10 in Card Fraud/Theft |

Fraud losses on UK cards totalled £186.8 million from January to June 2010*

Although this is a decrease of 20% on the same period in 2009, it is still a massive cost to both the UK as a whole and to us as individuals. It is important that we continue to help reduce this figure further by protecting our cards from being stolen and used fraudulently.

With this in mind CPP have collated this list of top tips to help you prevent card fraud:

  • Sign up to Verified by Visa® or MasterCard® SecureCode™ as this will put a stop to most unauthorised online spending
  • Don't let restaurant or shop staff take your debit or credit card out of sight when you are paying, even for a second
  • Check your receipts against your bank or credit card statements to make sure there are no unexpected transactions
  • Shred any documents, statements or receipts that contain personal financial information. A clever fraudster can do a lot of damage with just a credit card receipt
  • Don't let anyone else take money out on your behalf
  • Never write down your PIN, passwords or user names
  • When entering your PIN at a cash machine (ATM), cover the keypad with your spare hand to protect it from prying eyes or hidden cameras
  • Don't carry multiple debit or credit cards in your purse or wallet, and don't carry cards loose in your bag or pocket
  • Sign any new cards as soon as they arrive in the post
  • Cut through the magnetic strip of expired cards when discarding them
  • Keep track of your card expiry dates. If a replacement card hasn’t arrived by the time your old one expires, call your bank or card issuer to check whether a new one has been sent out.


By keeping abreast of how criminals facilitate card fraud, you can better protect yourself.  For more information on how card fraud is changing and card fraud statistics subscribe to the CPP Blog news feed, view CPP news pages or follow us on Twitter.


* UK Cards Association, November 2010

Comments

business card printing 25/02/11

Commerce has always had its fair share of frauds. The technological innovations that have brought us credit card transactions and online business have given criminals new ways to steal. It’s easy to rob people when nobody can see who you are. Crooks have the ability to swindle you from halfway around the world these days

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MySpace Layouts 07/05/11

Globally credit card fraud costs card issuers billions of dollars a year in fraudulent use of their cards. Some of this loss is passed back to retailers who failed to comply with the normal processing method for the card. Another part of the loss is insured. Nonetheless, as a cardholder you are potentially liable for any fraudulent use of your credit card. It is, therefore, imperative that you make yourself aware of what the current fraud scams are and how you can help to in the battle of credit card fraud prevention.

 

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Liberty 17/12/11

I really need to find this info, thank God!

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