Scam of the week - The 'iTunes' scam
Several Moneywise readers have alerted us to an Apple iTunes scam whereby criminals have been able to hack into a customer's personal details through their iTunes account.
One reader ordered some music via their iTunes account while on holiday in America by logging onto the website in a public internet area. They then received two almost identical looking receipts, one genuine and one fraudulent, for the music ordered.
The fake email included the company logo, web address and the customer's details and asked for extra security details to be confirmed through a link in the email.
The customer queried why this had happened with Apple via its website and it reset the customer's password and confirmed that the second email was a fake.
iTunes says it will never ask customers to provide personal information, such as credit card numbers or passwords, via email.
If you receive one of these emails you should contact iTunes on its website: apple.com/support/itunes/store so the company can investigate it.
"Thieves tend to target the lowest hanging fruit, so it pays to take sensible precautions to keep your personal details out of harm's reach," says James Jones, spokesperson for Experian.
"Unfortunately, however careful you are, you can never completely eliminate the risk of a cyber criminal striking. You should therefore stay alert to the common signs of fraud being attempted," he adds.
If you think you've been scammed get in touch by leaving a comment below, or email us on firstname.lastname@example.org and let us know exactly what has happened.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.