Consumers fear recession will increase credit card fraud

By UK CreditCards.com

Consumers fear increase in credit card fraudUK consumers believe the recession will lead to increased incidences of credit card fraud and other forms of identity theft, a new survey revealed.

According to the latest Unisys Security Index, nearly three-quarters of the UK population believe the economic downturn will lead to a higher number of fraud cases.

Additionally, almost nine out of 10 said that they are currently worried that their credit card or banking details could be accessed by fraudsters. "It is very interesting to see that fraud fears have deepened as a result of the financial crisis," said Neil Fisher, vice president of global security solutions at Unisys.

He added that British companies should ensure that they do not reduce investment in the fight against online fraud, even if they need to make cutbacks as a result of the recession.

"Now is not the time for UK plc to take its eye off the ball when it comes to keeping customers safe and protected," he explained.
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Published: 24 April 2009