Fraud damages the economy

Fraud costs the British economy an enormous amount of money, estimated at around £14 billion in 2000, equivalent to £230 per head.

Use of plastic cards for purchases in shops, by mail order or over the internet is increasing. While plastic cards are generally a safe payment method some criminals target them to commit fraud and obtain money or goods illegally.

Increasingly many of us bank and shop over the internet.Shopping and banking on line can be very safe, but again there are criminals who will target this type of transaction.

There is much that you can do to protect yourself against becoming a victim of plastic card fraud, or fraud committed over the internet.

Simple fraud prevention measures

A great deal of plastic card fraud can be prevented if cardholders take simple steps to protect themselves and remember some key points:

• treat your cards like cash.
• always check your bank and credit card statements carefully - report any unusual transactions to your bank or card issuer immediately.
• store personal information securely and dispose of it carefully
• Rip up or shred documents that contain personal, sensitive or financial information.
• Keep your PIN secret, don't write it down and keep it with your card, don't tell it to anyone else and never let anyone else use your card and your PIN.

At cash machines

Take simple precautions at cash machines too:

• If you feel that someone near a cash machine is behaving suspiciously, or they make you feel uncomfortable then choose a different machine
• If anything looks unusual on the machine or it looks as though it may have been tampered with do not use it and report it to the bank.
• be aware of your surroundings and if you feel that someone is standing too close and may be able to observe you entering your PIN then cancel the transaction and go to a different machine.
• stand close to the machine and always shield the key pad to avoid anyone being able to see you enter your PIN.
• once you have completed a transaction put your card and money away discreetly before you leave the machine.
• if the cash machine retains your card report this to the bank immediately
• dispose of your cash machine receipt, mini statement or balance enquiry with care - preferably by tearing them up or shredding them before you discard them.

What should I do if I have been a victim of card fraud?

Report lost or stolen cards or suspected fraud to the issuer of your card immediately. There will be a 24 hour emergency number on your statement.

Check your bank and credit card statements as soon as they arrive and report any unusual transactions to your bank or card issuer straight away. There will be a telephone number on your statement.