CREDIT CARDS

Credit Card Fraud from Gadget Use

Social network users are putting their credit card information in jeopardy by failing to apply privacy settings research reveals.

ID fraud can cause important information about a consumer to be leaked causing credit card fraud, and 19 percent of Facebook users are failing to protect their personal information by not using any privacy settings.

Equifax showed with one user who had 173 Facebook friends, 62 percent provided their full date of birth on their profile, over three quarters their personal email address and nearly a third the name of their employer.

While this data may only be available to friends, these so called ‘friends’ are not always people the user sees regularly.

Additionally, the widespread use of smartphones, which gives users the ability to check facebook, emails and bank details, is another concern in terms of fraud.  Forty percent of smartphone users do not use password protection.

Nearly one in three respondents admit they use their smartphone for online banking, and this figure rises to two out of three for those 22-25 years old.

Worryingly 53 percent admit they do not clear their browser history on their phone, and 24 percent fail to log out of their social network or online banking sites leaving an open door to fraudsters should their phone be stolen.

Prevent Credit Card Fraud

Follow these tips to prevent your credit card or personal information getting into the wrong hands:

Do not carry multiple debit or credit cards in your purse or wallet, and only take with you what you require for that trip.

Always keep an eye on your belongings, do not leave anything unattended.

Register with a Card Protection company and have their emergency loss reporting number to hand if you should lose your cards.

Memorise your PIN numbers and try not to keep a record of them.

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