Recession leading to rise of card fraud, expert notes

Debt problems created by the recession could be contributing to an increase in fraud, as an expert has suggested the economic climate is playing a key role.

According to Sarah Blaney, card fraud specialist at insurer CPP, the lack of funding currently available is one of the factors behind the rise in the offence.

Those concerned about the money worries fraud can cause were advised to protect themselves, particularly when shopping online.

With around a third of credit card fraud victims now affected on the internet, she explained that this is becoming increasingly prevalent.

But avoiding suspicious web pages can minimise risk, as Ms Blaney explained: “A lot of sites that are shown to be fraudulent have got basic spelling errors and things like that, which you wouldn’t expect from a normal retailer’s site.”

It comes after CPP found more than a quarter of people have been a victim of fraud at some point.

By Andy Mackay

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