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Credit card consumers 'not savvy enough'

Credit card consumers 'not savvy enough'

Category: Credit cards

Updated: 26/03/2009
First Published: 25/03/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Credit card customers have been urged to be more aware of the dangers of internet scams.

Simon Crisp, director of Shopsafe.co.uk, explained that people "need to become a lot more sceptical" when it comes to providing personal details online.

He noted that education plays a key part in reducing the danger of fraud committed through phishing emails, which see fraudsters pose as legitimate companies and ask for consumers' information.

"We haven't seen a decrease in the number of issues that we are asked to intervene with," said Mr Crisp, adding: "People aren't getting more savvy."

He also observed that schemes such as Chip and Pin have helped to cut credit card fraud, but asserted the importance of highlighting the issue to consumers.

Recent statistics from UK payments association Apacs revealed that card fraud losses increased in 2008, although the figure as a result of overall expenditure was down 0.14 per cent in 2004 to 0.12 per cent last year.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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