Thursday, 2 July 2009

Keep your PIN out of sight

Be very careful not to let anyone see your pin when using a bank card. Consumer magazine Which? quotes the case of a Briton who lost over £2,000 stolen within 20 minutes of having his debit card stolen. It says Natwest turned down his fraud claim because his pin was used to withdraw the cash. The bank argued he must have been negligent, and when he appealed to the Financial Ombudsman Service, it also turned down his case.

Which? says card fraud at cash machines increased by 31% between 2007 and 2008, and around £609.9m was lost through card fraud last year. It expects that the Financial Services Authority (FSA, which takes over retail banking regulation in November, will provide more detailed guidance on the evidence that requjired from banks in card fraud cases. Which? will lobby the Authority to ensure that the process is fair and fully transparent for consumers.

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