| Credit card fraud is a constant cause of concern for | | | | fraud rise by a whole 16 per cent. |
| almost every credit card or debit card user. After all, | | | | In fact, online card fraud has been a major concern for |
| having your credit card details stolen means that it's | | | | many consumers of late as the breadth of the goods |
| more than your money that is in danger of being taken | | | | and services offered on the internet means that more |
| away from you - your name, personal address and | | | | and more people are paying for products over the |
| your personal identity will all be under threat as well. | | | | internet. However, many credit card companies are |
| The last major credit card scandal to rock news | | | | taking action to ensure that credit card fraud due to |
| headlines, for instance, occurred in March 2007 when | | | | online payments is as minimal as possible. |
| US company TJX, the owners of UK retail outlet TK | | | | Visa, for instance, have just launched Verified by Visa |
| Maxx, revealed that at least 45.7 million payment card | | | | - a new service that, once activated, requires the |
| details from its customers had been stolen by hackers. | | | | cardholder to enter a personally-set password every |
| While the TK Maxx credit card scandal sent | | | | time they make a payment online. By using this identity |
| shockwaves through the credit card statements of | | | | protecting format, Verified by Visa technology allows |
| many UK consumers, it's important to see the scale of | | | | Visa cardholders to minimise the risk of having their |
| this particular case as an anomaly rather than the | | | | card details stolen online and offers a new method of |
| norm. In fact, a recent survey by APACS, the UK | | | | online payments that is sure to see results. |
| payments association, shows that total card fraud | | | | If you're looking for a new credit card provider online, |
| losses have continued to fall between 2004 and 2006. | | | | and credit card security is one of your primary |
| Last year, total card fraud losses across the UK stood | | | | concerns, you'll be able to compare credit cards over |
| at £428 million - that's three per cent lower than | | | | the internet to establish which credit card companies |
| 2005's figure of £439.4 million. In turn, the 2005 | | | | offer you the best safeguards against security and |
| statistics were an improvement from 2004, at which | | | | card fraud. Of course, whatever credit card company |
| time total card fraud accounted for over £500 | | | | you ultimately opt for, it's always crucial to adhere to |
| million. | | | | basic preventative advice - such as not giving your |
| While fraud on stolen or lost cards and mail-non receipt | | | | credit card to any person you don't trust, and not |
| fraud dropped significantly in 2006 - by a staggering 23 | | | | throwing away your card when it's expired, but cutting |
| per cent and 62 per cent respectively - other types of | | | | it up instead. Taking these basic precautions against |
| card fraud are still on the up. The biggest increase in | | | | card fraud will minimise the risk of identity theft and will |
| credit card fraud has been in the card-not-present | | | | bolster any protection your credit card company might |
| category - by which card fraud that has occurred | | | | be able to give you. |
| over the phone, mail or internet. This category saw | | | | |