48% of Brits vulnerable to credit card fraud
Posted 2008-05-20
Brits are leaving themselves vulnerable to credit card fraud by not practising good security, it has emerged.
Recent research by Which? shows that approximately half of respondents admit to using the same security number for more than one card, while one in two individuals do not check a website is secure before making an online purchase.
A further one in seven people surveyed admitted to writing down their PIN numbers.
Some 33 per cent of the 4,119 people questioned by the consumer watchdog revealed that they had been a victim of credit card fraud in the past.
Martyn Hocking, editor of Which? Money, said: “Theres a lot more people can do to prevent fraud occurring.
“Shredding documents and checking your bank statements are a good start, but people need to be wise to basic fraud risks such as using their mothers maiden name as a password, or shopping on websites that arent secure.”
This follows news that Brits are being warned by Apacs and the Association of British Travel Agents to be wary when using their credit card abroad this summer.
With people drawing out more cash abroad, according to figures from the National Office of Statistics, the two groups advise people to take precautions and not be caught off-guard because they are in a relaxed holiday mode.
May 22nd, 2008 at 2:35 am
These details show why fraud crimes will continue to get worse until banks exploit KEY and PIN system.
Massive increase in fraud crimes should make the government and banks realise that their data protection and Chip and PIN systems are diverting rather than deterring fraud crimes simply because these systems are not making signature and PIN system reliable.
This shows that fraud will continue to grow until they exploit KEY and PIN system described on website www.xwave.co.uk which will deter BOTH identity and card fraud by making signature and PIN systems reliable and foolproof.
Fake documents have made our signature system unreliable while skimmers and pin-hole cameras etc. have made PIN system unreliable. We have option to make signatures reliable by personalising them with ID stickers and option to use Card Key Code to make PIN system reliable to make use of stolen and skimmed cards meaningless. By ignoring to exploit this system banks are only letting fraud crimes grow.
ID KEY system will eliminate the need for us to protect our personal and card details since fraudsters will be deterred from misusing these stolen details.
Proposed ID KEY can be treated as a reliable international ID card because it will personalise signature and PIN number to only the right individuals in any country.
We hope that the government and banks will appreciate these details and exploit KEY and PIN system before it is too late to stop a fraud boom.