Glossary: Credit card fraud

Credit cardholders can be defrauded in a number of ways: “skimming”, when someone copies the data from your card’s magnetic strip onto another card without your knowledge (in shops, bars and restaurants); stolen or lost cards being used by thieves; and postal interceptions where the card the bank sends you never gets delivered. Another way is through identity fraud, where criminals get hold of a utility bill, a bank statement or some other form of personal information so that they can take out credit cards, loans or mortgages in your name.

Relevant to: Scams

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