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Fraudsters targeting credit cards for use overseas

Fraudsters targeting credit cards for use overseas

Category: Credit cards

Updated: 08/01/2009
First Published: 08/01/2009

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 It is now over 6 months old so the content may be out of date.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 holders have been warned to be conscious of security, as details can be used by fraudsters abroad.

UK payments association Apacs noted that consumers do not have to travel to have their card used in a country where chip and Pin technology is not yet used.

A spokesperson for the body explained that in addition to being targeted abroad, customers are finding their cards are compromised at home.

"Be aware that your card details are valuable in the wrong hands and to keep your Pin safe," she added, urging those with credit cards to check their statements carefully in order to spot potential problems.

Recent Apacs statistics found that the cost of plastic card fraud increased by 14 per cent in the first six months of 2008.

The total reached £301.7 million, of which over 40 per cent was committed abroad.

However, since the introduction of chip and Pin losses at UK retailers have dropped by 35 per cent, the study showed.

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 Any products featured may be withdrawn by their provider or changed at any time.

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