Handbags 'major risk' in credit card fraud

Tuesday, May 22, 2007

Handbags 'major risk' in credit card fraud

It has been suggested that women's handbags are a major source for credit card fraudsters because so much information is kept in them.

Research from Equifax found that 80 per cent of women carry their credit and debit cards in their handbags wherever they go, meaning that a fraudster can easily get hold of the information needed to carry out credit card fraud.

While the onus is clearly on people not to make themselves an open target for criminals, one method to help tackle the rise of credit card fraud in the UK is the implementation of stringent identity authentication standards.

By using identity authentication standards, the ability for credit card fraudsters to use stolen cards is reduced.

Highlighting the importance of maintaining a high level of identity authentication systems, Neil Munroe of Equifax commented: "Information is our greatest asset these days."

Source

http://www.qas.co.uk/company/data-quality-news/handbags_major_risk_in_credit_card_fraud_467.htm