Britons do worry about credit card fraud

June 6, 2007

As surprising as it may seem, Britons do appear to be worried about credit card fraud. With the constant warnings to protect credit card details and to be careful who you give information to, it seems the message finally is sinking in for most consumers. However that does not mean that credit card spending in slowing down.

Whilst people are scared of credit card fraud they still continue to spend frequently on their cards. This is excellent news for retail outlets but it really will not solve the problem of fraud. It is estimated that 15% of people’s annual income is spent on credit card purchases and that is a lot of money!

Luckily new measures are always being introduced to help tackle the problem of identity fraud, but it does still happen. Chip and pin machines have made consumers a lot safer but people do still need to be cautious about who they give their details to. This means checking that the website you are purchasing goods from is reliable. Does it have any safety precautions and warnings on the site for example?

You should also be careful who you are giving your card details to over the telephone. A lot of fraud happens over the telephone and it is something that many people do not consider. You assume when somebody rings you up and asks for your details, that it is a genuine, reliable person you are giving your information to. However that is hardly ever the case and so you should certainly be cautious of who is on the other end of the phone.

Roughly 13% of people who use credit cards have been a victim of identity fraud. This simply highlights the true problem that Britain has with fraud and it shows that you really do need to be careful. Protect your details at all costs and that way you will be safe.