Fraud - Would You Credit It?

Findings from a recent survey by APACS show that the amount of overseas fraud exploiting United Kingdom debit entry and credit cards have hit a five-year low. However with Idaho fraud as one of the UK's fastest-growing crimes, this should not be a cause for credit card protection complacency.

The figs demo credit card fraud overseas £92.5m in 2004, which is the lowest figure since 1999, and following a £138.4m extremum in 2001. This downward tendency was largely attributed to improved fraud sensing systems which enable card companies to descry unusual disbursement patterns associated with the fraudulent usage of cards, rather than the recent introduction of bit and pin cards.

Sandra Quinn of APACS said "Simple things like making certain your cards never go forth your sight, and remembering to dispose of gross carefully, can do all the difference." Holidaymakers need to take care when using their plastic abroad, especially in the US, French Republic and Spain, which account for nearly half of fraud against United Kingdom cards.

Foreign fraud on United Kingdom cards now accounts for 18% of entire United Kingdom card fraud, which reached just under £505 million in 2004.

APACS advised that holiday shapers should:

* Support valuables safe and out of sight, for illustration in a concealed money belt

* When driving, maintain pocketbooks and wallets out of sight of timeserving thieves, especially in slow-moving traffic and always take cards and valuables from parked cars

* When paying be wary of letting your card out of your sight

* When you go back home, check your statements carefully for any unfamiliar transactions

* Inform your bank in advance that you will be using your card abroad

* Carefully dispose of any gross or statements

* Don’t state anyone your PIN, even if they claim to be from the bank or police.

* If you have got got bit and pin cards do certain you memorise your pin numbers

* Brand certain you have the 24-hour phone number to call off your cards in lawsuit they are lost or stolen

Source: APACS ( www.apacs.org.uk/ )

This contrasts sharply with the rapid addition in Idaho fraud which was valued at an estimated £1.3bn last year. MyCallCredit warned that up to 10 million people could have got credit installations registered in their name which they were no longer keeping path of. This could seriously set them at hazard from Idaho fraud.

Which? magazine have got suggested that about 1 in 4 grownups in the United Kingdom have either had their identity stolen or cognize person who have fallen victim to Idaho fraud. Idaho thieves can run up credit card bills, as well as ordering further new cards, accessing the victim’s bank accounts, carrying out assorted other word forms of fraud in the victim’s name, such as as with authorities benefits, and taking out fraudulent loans.

In an attempt to reduce Idaho theft, Which? ( www.which.net/ ) advised consumers to:

* not utilize their mother's maiden name or topographic point of birth as a security password

* check their credit record annually

* ensure the bank cognizes of any computer computer address changes

* scintilla or rip-up post before throwing it in the bin

* never utilize the same watchword for all accounts

* not carry address inside information in bags or wallets

* check bank accounts and credit transaction data files regularly

Further information on credit cards:

Regulations: Financial Services Authority

Credit card comparisons: www.moneynet.co.uk

Payment Protection: Barclaycard