Card Fraud in Scotland Increases by 82% in 2012

Keep a close eye on your credit card statement if your a Scot. A new report by CIFAS, a fraud prevention services, notes that account takeover fraud has increased by 82% in the first four months of 2012. Credit card hijacking, or account takeover, occurs when someone obtains enough information on an individual to access his or her current credit card account.

Some scams also include closing an account, only to have the new card mailed to a different address. Security measures in place such as security questions, passwords, and/or PINs must be learned in order for scammers to gain access to your account. Almost all credit card fraud occurs online, with the amount now more than 70%. If the credit card has been hijacked, the number increases to 90%. Fraud is an ever-increasing threat to consumers. Cardholders must watch their statements carefully and contact the card company immediately if any charges occur that are fraudulent.

Source: http://www.scotsman.com/business/personal-finance/current-account-and-credit-card-fraud-soars-by-82-1-2320270

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