Credit Cards and Phishing

In a recent survey, it has been found that half of those questioned have received an E-mail that was connected to people who were trying to fraudulently access people’s personal details to credit cards and bank accounts.

“Phishing” as it is called is becoming more widespread on the Internet and it is thought that one in every twenty member’s of the British public are loosing money through this practice, which has led to 5% being left out of pocket through this, with half having to pay for it by themselves as the banks did not cover them for this type of fraud, with a further 10th of those still awaiting for the banks to deal with the matter.

This form of Internet fraud is not only becoming more widespread, but is also becoming a lot harder to spot, as the “Phishers” are turning it into an art form, by using legitamate brands in such a way that they lead you into believing that they are the real deal. This is why people who use the Internet will have to be more vigilant protecting themselves from this form of fraud.

Credit card fraud is reported to have jumped to a fifth last year to £504 million in the U.K and included in this is the card not present fraud, where the credit card is used over the telephone or Internet to make purchase, where in the region of £151 million is lost to the fraudsters this way. Identity theft resulted in the loss of £37 million.

Add to this the looses due to “Skimming” where your credit card details are taken by swiping your credit card through a machine that stores your card details and then will be used to make counterfeited credit cards, that are then used in your name.

Being more aware when using your credit cards or the Internet to buy goods is more essential now than ever before, a couple of tips being never let your credit cards out of your sight and when using the Internet, if you receive an E-mail that requires you to give your account numbers and passwords, check with the company involved first by contacting them by telephone, though don’t use any phone number that may be accompanied with the E-mail.