Credit card fraud rises with recession
Phishing attempts worst in UK
Consumers are being warned that criminals are taking advantage of the banking collapse in the UK to steal credit card details.
According to credit reference agency Equifax, the UK has been the worst-hit country for so-called phishing attacks in the past year. Phishing attacks involve fraudsters sending emails to consumers, purporting to be from a reputable organisation such as a bank. They then request credit card or other account information, claiming it is needed to update files for some reason, such as a recent merger.
With the movement in the UK's banking sector over recent months, Brits have been a prime candidate for attack, according to Neil Munroe, external affairs director at credit agency Equifax. "Fraudsters think nothing of taking advantage of a bad situation for their own gain, which is precisely why consumers need to be cautious," he said.
"Phishing scams look legitimate, but a real bank would never ask customers to confirm security information in this way. We advise anyone who has received emails like this to delete them immediately and never reply to them," said Mr Munroe.
Published: 9 March 2009
- What protections do credit cards offer (besides Section 75)? – Section 75 is a well-known credit card protection, but it's not the only one. Here are some lesser-known defences ...
- Equifax reveals millions affected in data breach – Millions of records were accessed and hundreds of thousands are at high risk after the Equifax data breach ...
- Equifax suffers major breach - are you affected? – A breach at Equifax exposed details of millions of US consumers - and some UK consumers. Here's what you need to know ...