Debt problems caused by credit card fraud may have decreased in 2010
Debt problems caused by credit card fraud may have decreased in 2010
- Tuesday, 11 January 2011The amount of money lost through credit card fraud, which could lead to someone needing a
debt solution, declined in 2010.
That is according to Mark Bowerman, spokesman for the UK Cards Association, which provides information about making purchases on credit cards.
He said: "Debit and credit card fraud losses fell in the first half of last year, following on from a 28 per cent year-on-year decrease in 2009.
"The fight against card fraud can only be effective with a joined-up approach."
Debit and credit card fraud could leave someone needing
debt help if they cannot pay back the money spent on their cards.
However, in some cases, the government will cover the cost of the fraud from the public purse.
The KPMG Fraud Barometer revealed on January 10th that cases of reported credit card fraud increased in 2010.
A total of 314 incidents were reported, which is an increase of 16 per cent from 2009.

Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...