Protect yourself from Credit Card Fraud

You may be alarmed to learn that around one in three people in the UK has been a victim of credit/debit card fraud at some time, with losses of an estimated £400 million last year. Also, 80,400 incidents of identity theft were reported to CIFAS, the fraud protection service, in 2006. Technology introduced last year in the form of Chip and Pin has successfully succeeded in cutting cloned card fraud in half. Unfortunately, though, credit/debit card holders should be on their guard because fraudsters are becoming increasingly clever. Listed below are several precautions credit/debit card holders can take to help protect safety.

Do not keep your PIN written down anywhere, or tell anyone what the number is. Cover the number with your hand when you are typing into the pad in a cash machine or shop. You never know who might be watching you.

When shopping on-line, only shop at secure websites with a security icon such as the unbroken key symbol or locked padlock symbol. You should also check the start of the website address does change from http to htttps before you decide to make a purchase. If you use internet banking, type in the website address and never just click from a link on an email.

Get a copy of your credit report on a regular basis, as ID fraud victims often do not realise a crime has been committed for several months. This report would list all credit you have in your name and show any new applications for credit.

Shred or tear up all bank statements, credit card bills or receipts before you put them in the bin to protect your personal information.