| Many people will have heard about identity theft in the | | | | Credit card theft is also on the increase. There are |
| media lately. Identity theft is a growing problem in the | | | | many scams and schemes out there which will involve |
| UK, having originated in the US. It involves stealing the | | | | making you spend money on your credit card that you |
| personal information of an unsuspecting person and | | | | do not want to spend, or simply getting access to your |
| using this information to get access to their bank | | | | account and spending the money for you without your |
| account or other funds such as their credit card. | | | | permission or consent. |
| These days, so much of our financial system is | | | | All of this has led many people to wonder just how |
| computerised that it is very possible to get away with | | | | secure their credit cards are. Well the fact of the |
| thousands of pounds of someone else's money, | | | | matter is that you will not be held liable for all the |
| especially if it is on a credit card, before anyone will | | | | money that is lost when you are the victim of identity |
| notice what has happened. | | | | theft. So long as you have had no part in the theft and |
| Most people will have a huge amount of funds | | | | it has not occurred due to some fault of your own, |
| available to them on their credit cards alone. In fact the | | | | then you will only be liable for up to fifty pounds per |
| average customer will often have as much as ten | | | | card. This provides a great sense of comfort to |
| thousand pounds or more available to them instantly in | | | | people who are worried about identity theft. |
| the form of credit card debt. While most people would | | | | You do have duties regarding this however. The first is |
| not wish to ever spend this much money on their | | | | that you must report the theft or loss of your credit |
| credit card, it is available to them and if it were to be | | | | cards as soon as is possible after you find out that |
| spent without their knowledge they would have a very | | | | they are missing. You must also not give out your pin |
| hard time paying it all back. | | | | number to anyone no matter what the circumstances. |
| This is exactly what an identity thief will do. They will | | | | If you follow these simple rules, you will not be liable for |
| max out as much of the credit available to you that | | | | the money others manage to steal from your account. |
| they can get their hands on leaving you with potentially | | | | Chip and Pin, the much vaunted credit card security |
| disastrous and crippling debts. There are not too many | | | | system brought in to combat credit card fraud has |
| people who could easily afford to have ten thousand | | | | been breeched. Recently anyone using their credit |
| pounds of their money spent behind their backs | | | | card in any Shell petrol stations has been exposed to |
| without some serious consequences. | | | | a new method of credit card fraud. |