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Online fraud risk for credit card customers

Online fraud risk for credit card customers

Category: Credit cards

Updated: 06/01/2009
First Published: 05/01/2009

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 It is now over 6 months old so the content may be out of date.

Consumers are at risk of fraud due to children secretly shopping online, an expert has noted.

A recent survey by CPP found that 95 per cent of parents believe it is impossible for their children to make purchases online without their permission.

However, nearly a quarter of children said they had done so, using credit cards to buy goods over the internet.

And fraud expert at the firm Michael Lynch warned that this could lead to scams, or data being sold.

"They are putting up credit card details and home address details on the internet which can be used by fraudsters," he explained, adding that children may not be able to tell whether or not a site is secure.

The total value of card fraud committed in the UK reached £535 million in 2007, representing a rise of 25 per cent, UK payments association Apacs recently found.

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