You are here: Home - Credit Cards & Loans -

Blame for fraud laid at banks’ doors

0
Written by:
09/04/2008

Consumers are only willing to take a limited amount of responsibility for fraud, according to identity protection specialists CPP, with more than a third blaming banks.

CPP survey found consumers believe the greatest proportion of the blame for fraud should lie with banks, and nearly three quarters say it is the sole responsibility of banks or credit card issuers to resolve any problems with their products.

In addition, seven-in-ten people believe card issuers have responsibility to minimise the risk of card fraud. The same proportion of people believe they should be fully compensated in the event of any fraud.

Identity fraud remains a substantial fear for some, with 55% of people expecting to have their identity stolen at some point. A further 35% think there is a high chance that their PIN could be stolen by a criminal.

Zoe Manton, spokesperson for CPP said: “The survey findings highlight the responsibility and blame issues surrounding identity theft and credit card fraud. There is a feeling that identity theft is out of our hands, but it is preventable if you are careful with your personal data and are willing to accept responsibility for looking after your details properly.”

Related Posts

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
CTF top-ups continue to rise

The latest TISA quarterly survey of Child Trust Funds (CTFs) shows that parents and relatives continue to increase savings for...

Close