Police warn of credit card phone scam
The police are warning credit card holders to be extra vigilant after uncovering a phone-based scam.
The alert comes after members of the public reported being contacted by someone claiming to be from the security department of Visa or MasterCard.
The caller states that the card has been stolen and asks for the details to make sure it is still in the owner’s possession.
Victims of this scam could find thousands of pounds of debts run up on their card, but if they had a prepaid card, they could only lose the amount they had deposited onto it.
Recent statistics show that credit card fraud fell in 2009 for the first time in three years, but the greater security of prepaid credit cards against scams like this could be a sign of the future direction of the market.