A majority of Britons feel that they are more likely to fall victim to credit card fraud as a result of the financial downturn.
The financial crisis means UK citizens are more at risk of credit card fraud and other types of identity theft, a new survey has revealed.
According to the latest Unisys Security Index, 72 percent of Britons believe that the downturn has increased the likelihood that they will fall victim to some form of financial crime. Additionally, 88 percent said they were worried that fraudsters may be able to gain access to their debit card, credit card or bank account.
Neil Fisher, vice president of global security solutions at Unisys, said it was "very interesting" to see that concerns over fraud has been linked to the financial crisis.
"The current economic climate is forcing many companies to cut costs but a real or perceived drop in spending on security can have a major impact on consumer confidence," he explained. "Robust security procedures to protect against online fraud and ID theft are crucial to ensuring customer confidence, particularly with regards to online shopping and banking."
Consumer fears match data from the UK payments association Apacs, which reported recently that total losses on UK debit and credit cards through fraud increased by 14 percent in 2008, reaching £609 million. Most of the growth in fraud came in areas unprotected by chip and PIN.
