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Credit card holders warned over fraud risk

Wed, 11 Jun 2008

The trusting nature of many credit card holders could leave them exposed to the risk of fraud, one expert has warned.

According to Neil Munroe, external affairs director at Equifax, if criminals are able to access someone's personal details, then they face serious problems.

He said: "Your personal credit profile is worth probably several times more than the maximum credit limit that you've got on a credit card in your wallet."

Credit card customers should not "be so trusting" and take precautions to ensure that their information does not get into the wrong hands.

However, the fight against identity theft is a joint one and the police and government need to do more to tackle the issue, as do credit card companies themselves.

Last month, Experian reported that they had dealt with 66 per cent more cases of fraud in 2007 than in the previous year - up from 3,500 to 6,000.
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