Credit card fraud is a major problem in the UK
In a recession there are very few areas of the economy which are in an upward trend but credit card fraud and credit card theft are two areas which are booming at the moment. Whether it is the fact that more and more people in the UK are looking towards their flexible friends to fund their short-term lifestyles or perhaps the fact that criminal gangs have become more sophisticated is open to debate, but ultimately UK credit card holders are paying the price.
Credit card fraud in the UK has risen to record levels over the last two years helped by the fact that many people appear not even to check or open their credit card account statements. It is vital that you monitor funds used on your credit cards each and every month because ultimately this will be your first warning sign that problems may be a foot. Catching the credit card fraudsters at an early stage will reduce the potential loss for your credit card company and ultimately for yourself, as well as alerting the authorities of these criminals.
If you have any indication that your card has been used without your authority, even if this is a genuine error, you should contact your credit card provider as soon as possible and give them as many details as you can.
Share this..
Related stories
Loan applications set to rise
January is a traditional time for there to be a noticeable increase in loan applications, it has been revealed.Equifax has reported that more loan applications tend to be received in January than at other times of the year as people begin to pay off the debts that they have mounted up over the Christmas period. "There's a common trend that people do borrow short-term over Christmas and try to cons...
Read MoreBarclays Bank results beat expectations
In a startling turnaround the half-year results from Barclays bank were actually ahead of analyst expectations and the company appears to have started 2009 "extremely strong". This is the same bank which only weeks ago was under severe pressure with rumours abound in the market that the company would have to tap shareholders for extra funding. The £2.66 billion profit for the six months ended 31...
Read MoreGordon Brown goes on the offensive
After last week's disastrous GDP figures Gordon Brown has gone on the offensive reaffirming his claim to "lead the UK out of recession". He has also announced a further crackdown on credit companies in the UK to try and reduce the cost of borrowing and increase liquidity in the UK market at a time when UK consumers are crying out for assistance. However, it is his claim to lead the UK out of reces...
Read MoreWatch Out For That Phishing Scam
The last few years have seen the internet used as a new medium for the fraudsters and con artists around the world with literally million of pounds being stolen or obtained fraudulently. While many companies have introduced sophisticated security procedures the fraudsters still continue to thrive and the number of phishing scams continues to rise.
One of the main areas which the ph...
Citigroup looking to offload Egg
US financial giant Citigroup is reported to be looking for buyers for its Egg Internet banking operation which was acquired back in 2007 for over £500 million. The operation, which was originally part of the Prudential Group, has been hit by the difficult trading climate in the UK and posted a loss of £106 million in the six months to June 2009. However, it is the underlying financial strength o...
Read More