Press Release

CHIP & PIN CLONING WHAT CAN CONSUMERS DO TO PROTECT THEMSELVES?

Equifax warns of the risks of credit card cloning as new fraud scams emerge

www.equifax.co.uk

London, 1st September 2008 - Recent reports suggests that Chip and PIN cloning is becoming a growing threat to consumers, with news of shoppers' bank details being stolen using spy equipment in legitimate chip and PIN machines.

With the apparent growing sophistication of the criminals, leading ID fraud expert, Equifax, is advising consumers to be as vigilant as possible when using credit and bank cards and to check their credit card and bank statements very carefully for any signs of unusual activity.

As in the case of Sarah McBride, a 19 year old administration assistant from Teddington shows, despite all the best intentions, fraudsters are coming up with more advanced ways to obtain the personal details of others.

Sarah received a call from her bank asking if she had been to Italy and whilst she confirmed that she had, she was puzzled by the call and the transaction they wanted to confirm because she hadn't taken her credit card with her. It later transpired that the bank believed her card had been cloned at a local petrol station. The bank quickly cancelled the card and advised her to only use cash at garages.

Sarah is usually quite wary with her money and takes care when entering her PIN number. Plus she doesn't use her credit cards to pay for many things as she prefers to monitor her spending by withdrawing cash. However, despite this care and attention, she became victim to the cloners and it has made her think more about her own card security and what she can do to limit the chances of becoming a victim again.

She now keeps a closer eye on her card statements and ensures she shreds all her personal information. When she found out she was a victim of fraud, Sarah applied for a copy of her Equifax Credit Report to check her details.

"Sarah is very careful with her cards and money, yet she still became a victim of credit card fraud", confirmed Munroe. "Fortunately for Sarah her bank was quick off the mark and stopped any serious damage being done. However, ID and credit card fraud is a threat that will not be going away any time soon. But armed with the right knowledge, consumers can help minimise this threat and take immediate action if they become victims."

Check bank statements and credit card statements against receipts regularly and carefully.
Set up online banking for instant access to statements and monitoring of account activity. Only use online banking on a secure, private computer and ensure all online safety measures are used.
Shred all statements, bills and direct mail which contain personal information
Redirect mail if you move house
Keep your PIN secure and never give it to anyone else. Do not use the same PIN for all of your accounts/cards or be embarrassed about covering your PIN when entering it
Get a copy of your credit file to keep track of how your personal data is being used
If you think you have been a victim of identity theft subscribe to the CIFAS Protective Registration service

Neil Munroe, External Affairs Director, Equifax says:

"Fraudsters are using both hidden devices to unscramble codes and reveal PINs and fake card readers to obtain personal details from cards and pass these onto third parties abroad" confirmed Neil Munroe, External Affairs Director, Equifax. "And whilst there had been concern about this activity going on abroad, it now appears that the risks are closer to home with many cases of cloned cards being reported in the UK including the most recent case of a petrol station worker who was jailed for committing a £175,000 fraud through cloning 500 customers' credit cards. "The key for consumers to help protect themselves is to take sensible precautions to minimise the risk of fraud on their accounts and to have steps in place so that they can take fast action if they do become victims."

Equifax has recently launched Equifax Identity Watch Lite which is a simple and cost-effective way for consumers to protect themselves as it continually monitors their credit information for any unusual activity. For just £2.99 per month, they are alerted to any changes to their file that do not match their own known purchasing and payment activity. This could be a search of their credit file - when they haven't made any new applications for credit - or details of a new credit account opened in their name that they know nothing about.

To find out more about Equifax Identity Watch Lite visit www.equifax.co.uk.

Neil Munroe is available for interview to discuss Identity Fraud and provide advice on how consumers can help to protect themselves. To book please call Louise, Eli or Cecile at HSL on 020 8977 9132 or email equifaxbtocteam@harrisonsadler.com