Stay sensible to avoid credit card fraud this Xmas

23 December 2009 11:26:49

Monitoring credit card transactions should reduce the threat of fraudsters.

Christmas is undoubtedly the season to be jolly, but it is also a time when credit card fraudsters are determined to turn the festivities into a nightmare. However, there are a range of measures Britons can undertake to ensure that their risk of becoming an unsuspecting victim is substantially reduced.

Losing track

With shoppers hitting the high streets and online retail sites in their droves, the scope for scammers to strike is undoubtedly huge. The danger is particularly heightened as any suspicious activity may slip under the radar as a steady stream of money is spent on presents.

Such a pitfall was highlighted earlier this month by life assistance company CPP, which found that one in three respondents to its latest poll admitted to "losing track" of their spending at Christmas. Furthermore, the firm noted that up to 315,000 Britons will be struck by debit and credit card fraud during the festive period, with the average person losing £623.

Cunning thieves

In addition to the trends associated with Yuletide, a cursory glance at recent instances of credit card fraud suggests that criminals are now operating with ever-growing powers of deception and no shortage of audacity.

For example, telesales workers at Flyline, a British Airways operation in Germany, were caught making note of customers' payment details and arranging for counterfeit credit cards to be produced. Meanwhile, an organised mob from the West Midlands routinely flew to top hotels in Scotland to break into wealthy businessmen's rooms and steal their credit card details, banking approximately £20,000 before one member was caught by police.

These two cases were also expanded upon recently by Nationwide, which called for PIN security to be improved at cash machines during the run-up to Christmas as opportunistic thieves become more active.

Safety first

However, this worrying overall landscape and the increased risk of falling prey to fraudsters at this time of year should not lead Britons to believe that their only available option is to bury their heads in the sand and hope not to be targeted.

CPP has advised credit card customers of the importance of taking quick and straightforward precautions, such as checking receipts against bank statements once back at home following a shopping trip. Only carrying the debit or credit cards that are specifically required on any given outing is also a prudent approach, while anyone who has seen a card lost or stolen should contact their bank immediately to minimise the chances of criminals taking advantage.

The general message is clear: by being safe and sensible at all times in relation to debit and credit card activities, Britons can ensure that it is the fraudsters who are left out in the cold during this year's Christmas celebrations.

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