Press Release

DON'T LOSE SIGHT OF YOUR CARD WHEN ABROAD THIS EASTER

Equifax warns of the risks of credit card cloning as APACS reveals £90.5 million rise in card fraud abroad

www.equifax.co.uk

The introduction of Chip and PIN in 2006 has certainly helped to combat credit card fraud. However, the latest figures from trade body, APACS, show that there has been a significant rise in fraud abroad and leading ID fraud expert, Equifax, is warning that holidaymakers heading for foreign shores for the Easter break could be particularly at risk.

"The APACS figures show a staggering £90.5million rise in fraud abroad with UK cards being targeted in countries where Chip and PIN hasn't yet been adopted", confirmed Neil Munroe, External Affairs Director, Equifax. "With ID fraud as a result of card cloning taking hundreds of hours to rectify, clearly the best advice is to ultra cautious with credit cards when abroad. In particular, we strongly advise travellers to limit the number of cards they take abroad as well as never lose sight of the card they use. NEVER leave a card behind a bar or let a waiter walk away with your card.

"The fact is that the methods by which cloning is perpetrated are becoming more sophisticated, with a number of cases highlighted to us in the last few months."

But Equifax is also warning that cloning isn't just a threat when travelling abroad. There have been a number of media reports of it taking place in the UK, giving retailers particular headaches. The company is therefore warning consumers to look closely at their credit card and bank statements for signs of unusual activity and it cites the case of Sarah McBride, a 19 year old administration assistant from Teddington, who found out about credit card cloning the hard way.

Sarah received a call from her bank last year, asking if she had been to Italy. She had recently been on holiday there, but she hadn't taken her credit card so was puzzled by a transaction from Italy that the bank was calling about. It transpired that the bank believed her card had been cloned at a local petrol station, which was a problem they were seeing on a regular basis. The bank 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. 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 card security and ID fraud.

She applied for a copy of her Equifax Credit Report and is considering shredding her personal details from now on. Sarah also recently moved house, so she has set up post redirect to ensure that none of her post goes to the old address.

"Sarah is very careful with her cards and money, yet she still came a cropper at the hands of cloners", confirmed Neil Munroe, External Affairs Director, Equifax. "As Sarah experienced, fraudsters are close to home, with many cloning cards in the UK and then living it up abroad using the victim's card. Fortunately Sarah's bank was quick off the mark and stopped any serious damage being done.

"ID and credit card fraud is a very real threat for consumers, making it essential that they take sensible precautions to protect themselves. Armed with the right knowledge, consumers can help minimise the risk of fraud and take fast action if they do become victims."

APACS 2007 Card Fraud Losses Released 12th March 2008

March 2008