Banks warn customers to keep eye on credit cards

BANKS have warned consumers to be vigilant when using their credit cards this Christmas.

Credit card fraud has increased by over 10% this year and in the busy shopping season, there are a range of scams that can extract money from the 2.1 million Irish credit card owners.

“Credit cards have become a way of life for people but the joviality of Christmas can make them less focused. When people are out in restaurants or at Christmas parties, it’s easy to leave the credit card in a jacket pocket or forget it altogether,” Bank of Ireland spokesperson Eddie Ryan said.

Credit card fraud cost Irish banks over 5 million last year. The most common form of ‘plastic fraud’ is still the theft of credit cards.

But more sophisticated operations, known as ‘card skimming’, are also being used to steal from credit card users. Last year, the Garda Bureau of Fraud Investigation arrested a gang who were copying credit cards from Dublin restaurant customers using a cigarette-sized machine. The card information was then later copied onto a new card, which was used overseas in countries like Taiwan and China.

“Card skimming is a very serious issue. The key thing is never to let your credit card out of your sight when you’re wining and dining,” Irish Bankers’ Federation spokesperson Louise O’Mahony said.

Irish consumers are still wary of using their credit cards to shop on-line, according to Orbiscom, an internet payment company.

“About two-thirds of people have serious concerns but that doesn’t mean they don’t buy online. Over 230,000 Irish people have purchased goods over the internet during the last three months,” marketing vice-president Denis Cody said.

“When buying online, you should never respond to a product advertised by junk e-mail (spam). Stick to the websites that you know,” he said.