thehelpfulshopping-blog.co.uk

The overall cost of credit card/banking fraud in the United Kingdom alone is said to be over four hundred million pounds! The main method of this type of fraud is done by ‘card skimming’. Card skimming is where the information that is stored in a cards magnetic strip is duplicated electronically onto another card. This type of fraud mostly occurs in shops, restaurants and fuel stations/garages. What happens is; you give them your credit/debit card and they produce a replica which they then use, in some cases, on the other side of the world, making it harder to detect and trace. Fraudulent activities occur both on-line and on the street so you need to take precautions no matter where you are.