Postal strike smokescreen for card thieves?

By UK CreditCards.com

Cash back credit cards easier to managerPostal strikes might cause confusion among some credit card customers who have fallen victim to facility takeover fraud, according to CreditExpert.

New analysis from the credit report provider suggests that some cardholders believe their account statements have been delayed by the industrial action, when they have actually been stolen by fraudsters. The customer confusion has developed due to the national postal strikes, which have caused widespread hold-ups in the service.

However, facility takeover fraud can involve victims' statements being intercepted and stolen.

Criminals can then drain funds from credit card accounts or use card numbers and other personal details to take out additional credit, with the original statement never reaching its intended destination.

Darryl Bowman, a representative of CreditExpert, said: "The recent upsurge in account takeover fraud shows that we mustn't let the postal strike act as a smokescreen for fraudsters.

"It's tempting to assume missing post is down to a backlog. Investigate and report any missing items quickly."

Figures from CreditExpert show that reports of facility takeover fraud grew by 206% over the first nine months of 2009.ADNFCR-2308-ID-19445391-ADNFCR

Published: 6 November 2009