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"Care needs to be taken with credit cards whilst abroad"

By admin | September 25th, 2008 | Credit Cards

Many people that travel abroad each year are insistent on taking their credit cards along with them, not just for ease and convenience but also as a form of back up in the event of a financial emergency whilst they are so far away from home. For many taking a credit card along on their trip means that they don’t have to worry about carrying cash or traveller’s cheques around, and can make purchases easily and conveniently.

However, many recent reports from industry groups have shown that many Brits have become victims of credit card fraud as a result of taking their credit cards abroad, where theft, cloning, and other types of credit card fraud have taken place.

This is why industry officials are now urging consumers to try and ensure that they take the utmost care when they take their cards abroad, as this can help to minimise the risk of becoming a victim of card fraud.

One industry official said that credit card users are at much higher risk of becoming victims of fraud whilst they are abroad, stating: “You’re on holiday, you’re relaxed and you’re not necessarily thinking about what’s going out of your bank account – you might not want to think about it. It’s not until you get home and you have a look at your bank statement that you realise that more has come out than you expected.”

Officials have also pointed out that whilst consumers within the UK can enjoy the protection of chip and pin technology this is not always the case abroad, and fraudsters will quickly take advantage of the fact that many countries do not yet embrace chip and pin technology. Anyone that finds there card missing whilst abroad is advised to report it immediately before fraudsters can make any transactions on the card.

Tags: credit card fraud, chip and pin

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