Security Professionals Report Surge In Card Fraud And ID Theft

Incidents of credit card fraud and identity theft in the UK are increasing at an alarming rate, according to a survey conducted by Infosecurity Europe.

Forty-four per cent of the 1,000 Londoners questioned in the survey said they had been the victim of bank or credit card frauds. while 42 per cent of respondents reported falling prey to identity theft.

Commenting on the results of the survey, Claire Sellick, event director for Infosecurity Europe, said in a statement: “The incidence of bank card fraud and ID theft is very high, and perhaps not surprising, given how ingenious criminals have become.”

Infosecurity revealed that on average, victims lost £1,488 to the criminals, with 37 per cent of victims claiming that they had not been reimbursed by their bank.

Interestingly, a whopping 60 per cent of the people blamed retailers for making them more vulnerable to credit card fraud and identity theft. Only 12 per cent placed responsibility for their losses with the banks.

Better news came from those customers who had faced the biggest losses. Ninety-one per cent of respondents who had lost over £5,000 in credit card fraud and identity thefts said they had been reimbursed by their credit provider.