Credit Card Fraud

Credit card fraud and identity theft are two very real worries nowadays and if it was to happen to you, it could cause you to suffer with stress and financial problems.

Withdrawing money from a cash machine is something people do everyday without giving it a second thought, but you could be giving your personal information away without even knowing it.

A spokesperson from Cambridgeshire police has said that credit card fraud and card cloning is not the work of uncoordinated criminals who work on the spare of the moment, but highly organised individuals who know exactly what to do in order to get the information they need.

An example of a fraud method used is with the help of mini cameras that are inserted into the card slot and then record the PIN numbers of people using the cash machine.

The first you will know of these techniques will probably be when your bank calls you and asks if you have been withdrawing money abroad recently.

It is believed that there is probably a lesser risk to you using your card whilst inside a building rather than one outside, however; there is no guarantee and it is therefore imperative that you check the machine that you are using for anything that may not look right and report it immediately if you find anything.

Another technique used is known as shoulder surfing. This is when people stand very close behind you to get your PIN and then jostle with you in order to get any credit cards from you. It has also been known that some may then insert your card so that there is no way of you getting it back and your card can then be duplicated very quickly.

You should also be aware when your card is taken from you in order to scan it as there is a chance that it may have been put into a card reader. It is always best to insert credit cards yourself into the Chip and PIN machine and then manoeuvre it so that no-one else can see your number.

The introduction of Chip and PIN was to reduce the number of fraud cases relating to credit cards and Cambridgeshire police have said that it has definitely become much more secure in this country.

However, in some areas there has been an increase in the number of fraud cases and Apacs, the UK payment association think they may know why. There has been a significant increase in card-not-present fraud, when transactions are made over the phone, internet or through mail order. It is therefore imperative that any personal bank details are destroyed, either by a shredder or by ripping them up, this way there is a smaller chance of any fraud taking place with people’s personal details.