Network Cash

Credit Card fraud is increasingly viewed as a victimless crime, a security specialist claims.
Danny Harrison, an expert with protection firm CPP, says more people are seeing card fraud as a crime in which no party loses out.Levels of credit card fraud are high because conmen don’t think they are hurting anyone when doing it, he added.

He said: “Card fraud is moving more and more into becoming what’s viewed as a victimless crime because the fraudster sees it is the bank that pays, not the individual, and in the majority of cases that’s true.”

He said cardholders should take care where they keep their plastic and should contact banks immediately if they go missing.

February is a danger month for people using credit cards overseas, says a leading building society.Nationwide believe couples heading abroad for Valentine’s Day contributed to £27m in unnecessary charges in February last year.

It advises credit card customers to avoid providers who charge for using cards overseas and to use debit cards instead, as this may be cheaper than using a credit card while on holiday.

Holidaying consumers are also being warned about Dynamic Currency Conversion - where the cardholder is given the option to pay in sterling or local currency - as retailers can often determine exchange rates.

Nationwide’s Jeremy Wood said: “Couples planning to go abroad for a romantic getaway for Valentine’s Day should be aware of the hidden charges most card providers impose, which are both costly and unnecessary.”