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Credit card safeguards see shift in fraud types

Credit card safeguards see shift in fraud types

Category: Credit cards

Updated: 24/02/2009
First Published: 24/02/2009

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 It is now over 6 months old so the content may be out of date.

The introduction of Chip and Pin technology has significantly reduced the amount of travel fraud being carried out on credit cards, it has been suggested.

However, ABTA - The Travel Association, noted that a subsequent increase in card not present fraud has been seen.

Spokesperson for the body Frances Tuke explained that offenders are posing as credit card customers and using false identities to purchase holidays.

She added that in some cases fraudsters have contacted victims posing as employees of the provider, asking for passwords and other sensitive information.

"They were literally getting all their data from them and people were giving it to them," Ms Tuke remarked.

A recent ABTA press release revealed that fraudsters targeting the travel industry steal over £10 million each year.

It has offered advice on steps that customers can take to protect themselves from the problem, including collecting and keeping all receipts for holidays and flights.

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 Any products featured may be withdrawn by their provider or changed at any time.

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