Debt worries may be exacerbated by fraud instances

Wed, 05 Oct 2011

Rising instances of cheque and phone banking fraud might serve to exacerbate the fears many people in the UK may be feeling at present.

New figures from Financial Fraud Action UK have revealed escalations in incidents regarding both these areas in the first half of 2011.

Indeed, credit fraud losses swelled from £14 million in the first six months of 2010 to £16.4 million during the same period one year later.

Detective Chief Inspector Paul Barnard, head of the Dedicated Cheque and Plastic Crime Unit - which is sponsored by the banking sector to act against such criminality and is drawn from the City of London and Metropolitan Police forces - said: "We are urging everyone to be on their guard. Your bank or the police will never cold call you or email you and ask you for your login details."

Despite this, people's fears may be eased upon learning card and online fraud losses tumbled in the first half of this year.
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