Credit card fraud increasing

A new survey has shown a dramatic rise in debit and credit card fraud in the previous 12 months. The figures, part of the latest British Crime Survey from the Home Office, said that 6.4 per cent of credit and debit card users have been the victims of fraud, compared to only 4.7 per cent in the previous year.

It also appears that people are more worried about credit card fraud than they are about violent crime. Of those asked, 53 per cent were worried about having their cards stolen and used fraudulently, compared to 14 per cent who worried about becoming a victim of violent crime.

More and more people are also acting to protect themselves against fraud, as 78 per cent of the card users involved in the survey destroyed any documentation that contained personal financial information. In addition, 76 per cent said they regularly reviewed their bank statements to make sure all transactions were legitimate.

Of those who suffered from card fraud, only 14 per cent reported it to the police after noticing the problem, while 91 per cent reported it to their bank or building society . Another finding was that wealthy households were more likely to be the victims of credit card fraud than poorer ones.