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What types of credit card fraud are there? What can you do to minimise the risk of fraud? What extra protection is on offer?

April 26, 2017credit card extra fraud minimise Offer risk types

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What types of credit card fraud are there? What can you do to minimise the risk of fraud? What extra protection is on offer?

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Types of credit card fraud APACS, the UK trade association for institutions that deliver payment services to borrowers, estimates that UK credit card fraud cost £535 million in 2007. This amount has increased year on year. Credit card fraudsters operate in a variety of ways. They may: • Physically steal a card or use one they have found • Clone cards – known as “skimming” – when seemingly processing a legitimate transaction (e.g.