Big Increase In Credit-Card Scams

• News
• Published: 22 Oct 2009 in Money and Current Accounts

A huge increase in the number of people tricked into handing over credit and debit card details has prompted warnings to be vigilant by Financial Fraud Action UK.

It reports a 250% jump in the number of cases of telephone scams, with fraudsters targeting often vulnerable groups such as pensioners as well as members of the Asian community.

Victims are called by people pretending to be from the security or fraud department of their bank, who claim the bank's records have flagged up fraudulent transactions on the victim's card.

They win over victims' trust by appearing to offer help and assistance, and use genuine courier companies to collect cards and Pin numbers, which are used to take money from cash machines.

Says Katy Worobec, head of fraud control at Financial Fraud Action: "Victims have included pensioners and members of the Asian community. However, what is now clear is that the scam is becoming more widespread."

She warns consumers never to disclose their Pin or other personal financial information to people cold-calling them.