An announcement was recently made by the banking giant Barclays, which has stated that it will be issuing its contactless credit cards to more of its Barclaycard Gold and Classic credit card customers.

Officials from Barclays have reported that a massive 88 percent of people that have been using the contactless cards have said that they saved time when making purchases by not having to worry about putting in their PIN or signing a receipt.

An even greater percentage – 98 percent – said that they found the contactless credit cards very easy to use and that they were convenient to use when paying for small, low cost items such as a cup of coffee, a sandwich, and other sundries.

The contactless credit card system has been trialled by a number of popular retailers recently, and one of the latest to join in the revolution and trial the system is the High Street giant Boots, which has so far given positive reports with regards to the success of the system within its stores.

An official from Barclaycard recently stated: “Barclaycard is leading the UK’s contactless payment revolution. In three years we will have an additional four million customers who will be able to make payments using their contactless card.”

At present there are said to be around two million plastic cards in circulation which can be used to make contactless payments without the need to PIN entry or signature, and this number could grow if the popularity of these cards continues.

Greater numbers of users get contactless credit cards is a post from: Credit Cards Web

Fortunately, there are ways in which you can avoid becoming a victim of identity theft.

If you change your address, make sure you advise all the companies you deal with of this change. Many people do not do this and when fraudsters intercept mail arriving at a different address, they can steal your identity.

When you move bills and offers for loans can pile up at your old address giving people an opportunity to take out a loan, receive a gas or telephone connection or rent a flat in your name.

Tell your neighbours if you plan to be away from home on holiday for a period of time. They can make sure that your mail is fully pushed through the slot in the door or can collect it for you from your mailbox until you return.

Shred all paperwork associated with any of your accounts before you put it in the trash. Fraudsters do go through the trash and bills that are not torn or shredded is a prime opportunity for identity theft. This applies to old receipts, bill statements and bank statements. Cut up your old credit cards before you dispose of them.

Watch for people standing close to you when you use your credit card or debit card. Many fraudsters have machines they can insert into automated tellers and card-reading devices in which they capture your card number. A small camera will give them the details of your PIN. Keep a watch for such devices and make sure you protect the PIN number that you enter.

Never give out your PIN to anyone, even a family member. You should also memorize this number as well as your password, and not have it written on paper in your purse or wallet. If your purse is stolen, for example, thieves have your cards and from the papers they can find out what you passwords and PIN numbers are.

Check your credit record on a regular basis. It is important for you to know what this file says about you. Check to make sure your address is correct and that all the accounts listed on the record are correct.

Choose a PIN that would be very difficult for fraudsters to guess. After several attempts to access your account using a different number, the bank will automatically place a hold on the account and contact you. Experts advise that you should never choose birth dates as a PIN because fraudsters who gain access to your personal information will try this number first.

Be careful when conducting any online transactions via wireless Internet. Through sophisticate spyware, fraudsters can gain access to the personal information you have stored on your computer. Having a firewall installed blocks such spyware from infecting your computer and your files.

Disregard phishing emails. These are messages you receive from sites that look almost identical to banks and lending institutions. Once you enter your personal information, fraudsters could wipe out your account.

By taking heed to this advice and tips to avoid ID theft and monitoring your credit accounts and statements, you can keep your identity safe from fraudsters.

More tips on decreasing the chance of identity theft and also for US residents AIPS.org has more tips on identity theft prevention.

Beating Identity Theft Fraudsters is a post from: Credit Cards Web

It is estimated that card fraud over the course of last year will have reached over £600 million in terms of value, and this is the first time that it will have soared to such high levels. Officials have said that despite the introduction of Chip and Pin technology five years ago, which in itself is costing hundreds of millions of pounds, the level of card fraud just keeps on rising.

Gangs of fraudsters are often involved with credit card fraud, and banks have said that they are doing all that they can to try and combat this, with one official stating: “It is difficult to pursue some of these gangs because they are located overseas in a different jurisdiction and they use the internet to commit their crimes. However, generally, we are getting better at spotting frauds earlier and they are getting away with less per transaction as a result.”

The level of CNP or Card Not Present card fraud is also rising, and this is where transactions are made online or by phone where the actual card itself does not need to be shown. Sandra Quinn from APACS said: “As the name suggests, this means that the fraudster uses a stolen card number on the internet or by mail order. This is less risky as they don’t have to physically go to a shop to hand over a counterfeit card.”

Chip and Pin does not stop card fraud from rising is a post from: Credit Cards Web

Officials from the payment clearing agency APACS have said that around 40 percent of all credit card fraud now takes place abroad, with many Brits becoming victims of credit card fraud when they go overseas.

One of the major factors that have contributed to credit card fraud levels abroad is the issue of counterfeiting, where fraudsters use cloned or counterfeit cards to commit fraud. However, other areas of finance have also suffered increases in fraud levels, such as online banking, which has seen a 185 percent year on year increase.

On a lighter note credit card fraud on lost or stolen cards has fallen, as have fraudulent transactions on credit cards at High Street retailers, which have been affected by chip and pin technology.

Credit card fraud levels in destinations where chip and pin technology is not used is rife, and this is because consumers do not have the protection of chip and pin, which can deter fraudsters, which is why consumers need to be very careful when using the card overseas in a place where chip and pin is not deployed.

One industry official said: “Criminals continue to target those areas where we do not currently have the security benefits of chip and PIN, causing increases in fraud abroad and phone, internet and mail order shopping fraud.”

Reports of increased credit card fraud levels is a post from: Credit Cards Web

This period also saw online banking fraud suffer a 185% year on year increase, but the goods news is that credit card fraud stemming from lost or stolen cards and fraudulent transactions at High Street retailers dropped due to Pin and Chip technology, which has made fraud more difficult in certain circumstances.

Over half of all losses have been put down to CNP credit card transactions, which include telephone and Internet transactions where the credit card does not have to be present for a transaction to be made.

In the past three years credit card losses overseas have rocketed by around 190%, with many fraudsters creating counterfeit cards for use in countries that do not use Chip and Pin technology.

One industry official said: “Criminals continue to target those areas where we do not currently have the security benefits of chip and PIN, causing increases in fraud abroad and phone, internet and mail order shopping fraud.”

The European banking industry is due to roll out Chip and Pin technology in 2010, and officials have said that this will make credit card fraud abroad more difficult, which could help to bring down the level of credit card fraud. Thanks to Chip and Pin the losses at High Street retailers have fallen from £73.2 million in the first quarter of 2005 to £47.4 in the first quarter of 2008.

Rise in card fraud levels seen is a post from: Credit Cards Web

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.

Care needs to be taken with credit cards whilst abroad is a post from: Credit Cards Web

The rise of over a quarter in plastic card fraud in the first half of this year has taken the monetary level of this type of fraud up to £263.6 million. Although the overall rise in card fraud was 25% the actual rise in card fraud abroad came in at an alarming 126%, and this equated to card fraud totalling over £110 million in monetary terms. This, state experts, is what has contributed to the overall level of card fraud rocketing in the first half of this year.

One industry professional from the card payment clearing agency APACS stated: “These figures show how the fraudsters have changed tack. A couple of years ago they were mainly stealing cards and card details for use in UK shops and cash machines. But today, because of chip and PIN, they have been driven overseas — using fake magnetic stripe cards specifically in countries which have yet to upgrade to chip and PIN.”

Level of plastic card fraud rises is a post from: Credit Cards Web

What is it?

Chip and Pin is the new way to verify the card user’s identity at POS (Point-of-Sale) transactions in shops, hotels, petrol stations etc. Instead of asking for your signature, the shop assistant or desk clerk will ask you to enter the four-digit pin number, which you normally use with your credit or debit card, on a special keypad. The four-digit code is the same number you would use at an ATM to withdraw cash.

This system is, of course, far more secure as the PIN number is known only to you. The risk of your signature being forged is also eliminated.

How will it affect me?

All major debit and credit cards will have chip and PIN enabled by the end of 2004. You do not have to do anything. When your card is ready to be switched over to chip and PIN, your issuer will be in touch. During the course of the year, you will notice more and more shops asking for your PIN instead of your signature. Some major shops already have the scheme in place.

Why is the system changing?

Credit card crime is a major problem at the moment. Right now, a fraudulent transaction will occur in the UK EVERY 8 SECONDS. This chip and PIN system has been in place in France for over ten years, and since its introduction card fraud has been reduced by a massive 80%, so it’s effectiveness is well proven. A trial also took place in the UK starting last year to good effect.

What if I haven’t received my card yet?

Your new card will be issued roughly when it would normally, that is, near its expiry date, so don’t worry if you haven’t received yours yet. If your card isn’t near to its expiry date, you will still be issued with a new one soon. If you use your current card in a shop with the chip and PIN system in place, the card will not prompt the cashier to ask you for your PIN and you will simply be asked to provide your signature on the receipt as normal.

Chip AND PIN is a post from: Credit Cards Web