Credit Card Fraud-CNP…Is Increasing Rapidly Take Action Now To Avoid It.

Credit Card Fraud-CNP

“Britain is fast becoming the Nigeria of Europe”-says Early Warning, the anti fraud company. This is due to the use of credit cards for Internet and mail order transactions becoming increasingly popular in the UK.

These transactions are now described as Cardholder Not Present (CNP) and are proving to be the fastest growing form of credit card fraud in Britain, as criminals obtain card details, then make fraudulent remote purchases by phone, mail order and the Internet. 

Early Warning reported that Credit Card Fraud-CNP, had increased by a third between January and August in 2005 and the latest statistics from the Association for Payment Clearing Services (APACS), which acts for banks and credit providers, showed that this type of fraud had accounted for losses of £150.8 million in the UK in 2004. APACS explained that criminals are now concentrating on Credit Card Fraud-CNP since the advent of chip and pin technology, which makes it much more difficult for them to commit fraud in shops.

However, the good news is that new technology is now being tested to make CNP secure and both Visa and MasterCard are improving their online security, by checking questions and answers as arranged with their card-holders. Sadly card users have become complacent as the banks and retailers usually cover fraud losses. As a result prices are bound to rise because of the losses suffered by retailers.

How To Avoid Credit Card Fraud UK 

• Limit your CNP shopping to the use of one card, thus making it easier to pick out fraudulent transactions on checking your statement.

• Using an anti-virus program, a firewall and a spy ware checker is a must!

• Never give your PIN or password to anyone or keep a list of them.

• Look for security logos on websites such as, Verified by Visa, Secure Code from MasterCard and Safe Internet shopping from the Interactive Media in Retail Group.

• Always use a credit card rather than a debit card for increased protection.

• Some websites offer the option to store your credit card details, however, be careful to sanction this only on websites, which you feel confident about trusting.

Credit Card Fraud Prevention is worthy of your attention.