Financial Services > e-banking > Banking news
Expat savers who manage their bank accounts online more at risk of internet fraud

Wed, 10 Nov 2010

Expat savers are more at risk of internet fraud than those living in the UK as they tend to do more online banking, it has been claimed.

Also, expats are increasingly being offered the new contactless debit and credit cards . They are already available in the United Arab Emirates and work by allowing people to pay for low value goods, up to around £20, by swiping their card. Visa's version is called Pay Wave and MasterCard's is PayPass.

According to the UK fraud prevention agency, CIFAS, there were 80,000 instances of identity fraud in the first nine months of this year and although there are no exact figures for expats, offshore banks say they are aware that their customers are more likely to be victims of internet crime.

Banks advise customers that they will never ask for details by email. In order to combat fraud, customers should never give their details in reply to an email, ensure they always log off properly after they have been banking online and they should change their passwords regularly.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Save on your mortgage

Save on Your Mortgage

Save money on your mortgage? Fill out our quick mortgage enquiry form.

Health cover, life insurance and PMI

Health Insurance

Find Critical illness, Life and Private Medical Insurance PMI policies.

Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Amex Cash Back
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company