Half of Brits risk bank fraud

Half of Brits are failing to take basic precautions to protect themselves against credit card and bank account fraud.

Some 48 per cent of people polled by consumer watchdog Which? said they use the same PIN for more than one card, fail to check that a website is secure before shopping online, or use their mother’s maiden name as a password.

One in seven people write down PINs and passwords.

Martyn Hocking, editor of Which? Money, said: “There’s a lot more people can do to prevent fraud occurring.

"Shredding documents and checking your bank statements are a good start, but people need to be wise to basic fraud risks such as using their mother’s maiden name as a password, or shopping on websites that aren’t secure.

"By taking a few basic precautions, people can significantly reduce the risk of fraud - without buying unnecessary insurance.”

However, the security message now seems to be getting through to consumers.

Some 88 per cent of people hide their PIN from potential ‘shoulder surfers’ at cashpoints, 93 per cent check their statements for rogue transactions, and 92 per cent rip up or shred documents.

If you fall victim the most you are liable to pay is £50, which banks often waive, unless it is proved you have acted fraudulently or without reasonable care.

Some 95 per cent of those polled said after suffering card or account fraud they got all their money back. Just two per cent were not able to get any money back.

Figures from CIFAS, the UK fraud prevention service, show identity fraud cases rose 19 per cent in the first quarter of 2008.

CIFAS tips to avoid card fraud include:

• Always take particular care of your handbag or wallet. Don’t give thieves a chance. Be especially careful with your credit and debit cards.
• Try not to keep credit cards together or have them all with you at the same time and never let them out of your sight. Also, avoid carrying documents such as passports unless necessary and never keep in the same bag as your wallet.
• Shred all documents when you dispose of them. These can range from credit card or bank statements to letters from doctors, employers and indeed anything bearing your full name and address or signature. Receipts can also be valuable to a fraudster, so take care to shred these too.
• Examine your bank and credit card statements carefully. Keep all your receipts until you have checked each one individually against the statements. This will help you to monitor your account.
• Check your credit reference agency file regularly for unfamiliar items and take prompt action if you spot anything strange.
• Don’t forget to keep your home secure, and keep your personal documents locked away. Increasingly it is these documents that are being searched for by burglars rather than TVs and computers. Theft or loss of documents such as your driving licence or passport should be notified immediately.
• Don’t give your personal details to callers, charity collectors or “researchers” in the street. Check whether they are truly who they claim to be before giving them any information. Be just as careful when taking telephone calls. Fraudsters may try to dupe you into believing they are from banks or other companies. If you give them your account and security details they could run up huge debts in your name.
• When buying online – keep your passwords secure at all times and regularly change your passwords. Make sure that you have up-to-date security software, and only use sites that provide secure payments and be sure you know who you are dealing with.
• Avoid online bank or shopping transactions when using public wi-fi zones or shared computers.
• Redirect ALL post when moving house or business address

Daniel Barnes