Online bankers warned to guard against fraud

Tue, 05 Feb 2008

Anyone who manages their finances online needs to make sure that they protect themselves against fraudsters, one expert warns.

Mark Bowerman, spokesperson for card payment agency Apacs, said that the internet provided an extra area for scams and, if they weren't careful, people could fall victim to credit card and other types of fraud .

However, he said: "As long as people are taking common sense precautions, you have to remember that the chances of falling victim [to a scam] are incredibly small."

Mr Bowerman added that the number of people with online banking or credit card facilities was increasing, something he said reflected the fact that the benefits of managing your finances via the internet outweighed the risk.

According to the Office of Fair Trading, UK consumers lose around £3.5 billion to scams each year.

These frauds are perpetrated by post, email, text, telephone and the internet, it said. February 2008 is Scams Awareness Month.
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