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Retailers blamed for making people vulnerable to fraud

A survey of 1000 commuters in London has found that a tidal wave of credit card fraud and Identity theft is sweeping the UK as 44 % of people said they have suffered from bank/credit card fraud and 42% have had their identity stolen.

GENERAL MERCHANDISE

Retailers blamed for making people vulnerable to fraud

A survey of 1000 commuters in London has found that a tidal wave of credit card fraud and Identity theft is sweeping the UK as 44 % of people said they have suffered from bank/credit card fraud and 42% have had their identity stolen.

According to researchers from Infosecurity Europe which took place at Earls Court, London this week, the average amount stolen was £1448 per person, and 37% overall did not get their money back from the bank.

People that lost a small amount of money were far less likely to get their money back from their bank than people who lost a large amount of money with 91%of people who lost more than £5000 getting their money back compared to only 41% of people who lost less than £100.  The type of organisation that most people blame for making them vulnerable to fraud were retailers at 60%, whilst only 12% blamed the banks, and 28% said it was their own fault that they had lost money or had their identity stolen.

The researchers also asked if a partner or family member had suffered from bank/credit card fraud and 45% said that they had, whilst 41% said that their family had their Identity stolen.

The place that people said that they were most likely to have their details stolen from was online via websites or email with a quarter (27%) saying that this was how they were duped, a fifth (20%) said that face-to-face transactions in shops, hotels etc was how they lost their details. Being duped over the phone was the third most likely place to have details stolen with 15% of details being stolen this way.  Other ways that details were taken included cash point machines; online banking; and letters being intercepted in the post with each if these three methods having a likelihood of 1 in 10 (13%).

People also said that they could not relax their guard when they were out of the UK as 42% of fraud happened to them whilst they were overseas and 58% whilst said it was whilst they were in the UK. 

Claire Sellick Event Director for Infosecurity Europe said, “The incidence of bank/credit card fraud and ID theft is very high, perhaps this is not surprising given how ingenious criminals have become.  This is particularly true for online transactions and interactions as people are easily duped by offers that seem too good to turn down, pass on their details due to email phishing scams, act on phone calls from people claiming to be from their bank, or failing to check what post they throw away.  There is a constant battle between the criminals and security experts and Infosecurity Europe is the event where the people who protect us all come to gain an insight into the latest technology and services to keep us safe from the criminals.”

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