London is Card Fraud 'Hotspot'

If you’re a Londoner its more important than ever to keep an eye on your wallet as new figures out today reveal that England’s capital has taken over as the British hotspot for credit and debit card fraud.

Research conducted by the CCP group found that an astounding 28% of Londoners have been a victim of credit or debit card fraud. While Birmingham came in at a close second with a quarter of the population having experienced this type of crime first hand.

Outside these ‘super cities’ the risk of credit card fraud is still surprisingly high with one in five card users in Brisol, Manchester, Cardiff and Glasgow reporting fraudulent transactions.

The figures released by the CCP group only highlight the need for vigilance both on and off line as its not just face-to-face transactions that are always the problem. Over 40% of the credit and debit card fraud reported was a result of online scams with 20% of card abuse occurring after a credit or debit card was cloned at an ATM or cash point.

Zoe Manton, head of card protection at CPP, said: "Card fraud is a serious concern that is still common despite preventative measures put in place to combat this including chip and pin.”

"Fraud levels increased by 26% in the first six months of 2007 compared to the same period in 2006, to reach £264m, a figure that confirms fraud is still a problem."

However, while the figures themselves are of course cause for concern it is the fact that only 38% of those questioned identified the fraudulent transactions themselves after referencing their bank statements. Over 36% didn’t realize that anything untoward had occurred until their bank notified them of a suspicious transaction.

With credit and debit card fraud on the rise these findings only emphasise the need to pay close attention to both your credit cards and your bank statements.

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