Fears As Credit Card Fraud Exposed

• News
• Published: 19 Nov 2009 in Money and Credit Cards

Credit card holders have been urged to check their statements to identify if there was any suspicious transaction, after a major card fraud was exposed in Spain.

Spanish police are said to be investigating a credit card processing company, which is considered to be at the centre of the scam.

It is believed that any consumer who has had a payment processed by the Spanish company could be at risk and not just those who have used their cards in Spain.

In Germany, thousands of cards believed to be compromised have been re-called.

Meanwhile, card providers have assured that the innocent victims of fraud would not lose any money.

A Visa Europe spokesman said: "We cannot comment on the detail of specific investigations but Visa Europe is aware of a possible card data security issue in Spain.

"No details are yet confirmed, but we do not believe that the issue is specific to Visa." he added.

A spokesman for MasterCard said the group was looking at the extent of risk to which the card account data had been placed.

Emphasising that MasterCard's own systems had not been compromised, he added that the group could not comment further as the incident was under investigation.