Holidaymakers absorb £120 million in card fraud each year
Credit card fraud for UK holidaymakers has increased by around 8% in the last 12 months, according to recent reports by a UK insurer.
Accordingly, just shy of 10,000 cases of overseas identity theft were reported last year, the bulk of which taking place in western European destinations such as France. Over 50% of all reported cases originated from this part of Europe, with around 1/3 of cases stemming specifically from popular Spanish resorts.
It is suspected that the lack of certain key fraud prevention technologies in particular parts of Europe, are leaving many British holidaymakers susceptible to attack by criminals. It is important for people to not let their guard down when using their cards on the continent, and it is naïve to presume that systems available in the UK will naturally by available in other parts of the world, as unfortunately this is not always the case.
Newly reported cases of overseas Identity fraud are increasing rapidly. It has been suggested that of all types of fraud relating to credit cards, over 1/3 is made up specifically from Holidaymakers abroad. Analysts predict that the accumulative loss absorbed by holidaymakers, from suspected cases of Identity Theft totals around £120 million each year.
