Insurance and legal

Identity theft and credit card fraud are growing problems in the UK, affecting thousands of people annually.

Credit card fraud refers to the use of your card (or card number) to make payments and purchases without you knowing. Thieves usually get this information via stealing your card, finding a lost or disposed of card, copying your card or utilising discared personal documents.

Identity theft refers to the stealing, or appropriation of your name and details without you knowing. They would then use these details to obtain loans or credit cards, or to make purchases in your name. This personal information is usually gained by going through your rubbish and locating bills, statements or documents that you have thrown away. This can be especially worrying in the long term, as it will normally end up with you having a bad credit rating. If you do find yourself with a bad rating due to this (or any other) kind of fraud, you should search for guides on how to improve credit rating.

There are several ways you can make yourself less likely to be a victim of either of these crimes however. In the instance of identity theft, the best piece of advice would be to properly dispose of all personal documentation, shredding or burning these documents are the best ways to ensure they can’t be used for fraudulent purposes. If, like a lot of people, you often get mail for already approved credit cards, low interest loans or bad credit credit cards you should make sure they’re properly disposed of, as thieves can use these to open fake credit accounts in your name.

You should always be especially careful with your PIN number too. Never keep them written down in your wallet or purse, and similarly don’t store them in your mobile phone. If your bag was lost or stolen, then a thirf would end up with your card and your pin number, and would be able to clear out your personal finances. If possible, you should just try and remember your pin. If you’re finding the number difficult to remember, you can always change it. You should also ensure you keep the keypad covered whenever entering your pin at a cash machine, as well as keeping your eye out for any suspicious devices, particularly near the card reader section.

If you’re shopping on the high street or over the phone, you should make sure to keep your receipts and check them against your monthly statements. Doing this will mean you have a good idea of what you’ve spend and what should be debited from your account. If you know how much should be coming out, you’ll be far better placed to spot any fraudulent transactions. If you’re making a live purchase via the telephone, you can ask for the exact amount that will be debited from your account, again giving you a firmer idea of how much should be coming out of your bank. The last tip is to never, ever give your card details out to anyone (on the phone or otherwise), unless you’re totally sure of the legitimacy of the company you’re shopping with. Don’t ever be pressured into giving your card details, if you don’t feel comfortable, you can always make payment via an alternative method.