Foreign Gangs are often to blame (Is bank and credit fraud out of control in the UK?)

Name: sympatic

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Product:	Is bank and credit fraud out of control in the UK?
Date:	15.11.07 (80 review reads)
Rating:

Advantages: None you can lose lots of money

Disadvantages: Loads

As we become more comfortable with purchasing items over the internet and carrying out banking and the manaGement of utilities and bills via the web hence it is no surprise that there has been a huge increase in both bank and credit card fraud in the UK.

Many people are unaware of how easy it can be for a fraudster to find out personal banking details, anyone who does not shred their mail but merely disposes of it in their household waste or recycling bins runs the risk of someone obtaining financial details and using that information to steal the victims identity or duplicate their cards and use them to purchase goods.

Two of my friends have had their credit cards copied and these were used in Asia and the Middle East to purchase good running into the thousands and in both ases it took months before everything was sorted out. In both instances it is believed by the police that the cards were copied while they were purchasing petrol. Often either the petrol station worker is employed by the gang or co-erced by them to be involved in the theft and it is known that as the majority of workers in petrol stations in my area are from third world countries or Eastern Europe sometimes it is their families back home who are threatend by these international gangs.

The introduction of chip and pin was supposed to reduce the threat of fraud but as always the fraudsters have just become more sophisticated or moved on to hyjacking information from home basd wireless systems that are not protected.

There are a few sensible precautions you can take, use a diamond edged shredder to dispose of all paperwork with personal information on it, ensure that all your computer security systemns are up to date, always shield your pin number when inputting it, never let your card out of your sight especially in restaurants, only use secure sites to purchase items and never use the links in e-mals to access your banking site instead set up links in your favourites. I hope this advice has been helpful.

Summary: Credit card fraud.