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23 Feb 2022

Everyone and their uncle seems to have at least one credit card in 2021!

And while credit cards are great for boosting your credit score or helping you when money is tight, they can also be used to cause problems with identity, debt and, in serious cases, fines and jail sentences.

If you have been a victim of credit card fraud in recent months, you are not alone, and our team at ABV Solicitors can help you.

At ABV Solicitors, our fraud solicitor works with all areas of identity fraud, which also includes credit card and debit card fraud, helping you to get justice if you fall victim to this kind of scam that is growing in popularity and sophistication.

But what should you do if you have recently discovered that you are a victim of credit card fraud? Our fraud solicitor provides the following tips.

What is credit card fraud?

Firstly, it is important to define what is meant by credit card fraud under UK law.

In short, it is a form of identity theft. According to our fraud solicitor, credit card fraud can occur if your credit card was stolen and then used, you had a credit card taken out in your name without your knowledge or your credit card was used to withdraw money without your permission. All of these areas also apply to debit card fraud.

Credit card companies are aware of how these scams work and are working to ensure that their card users are kept safe. However, as they are developing better ways of thwarting credit card fraud, fraudsters are becoming more intelligent.

If you suspect fraud

If you think you have fallen foul of credit card fraud, the first thing you need to do is contact the police and then our team. You should also go online and report the issue to the Federal Trade Commission; like our team, this organisation works with police to detect fraudsters and is also valuable for spotting patterns in credit card fraud.

Together, our solicitors and the police will begin tracking the card that has been taken out in your name and aim to catch those responsible, bringing them to justice. In the UK, a conviction of credit card fraud can earn an offender 5 years in jail, so this is in no way a minor offence that you should ignore.

Prevention

Luckily, there are some ways you can protect yourself against credit card fraud.

Always aim to look at your monthly statements as soon as they arrive or as soon as you receive the email relating to your online credit card statement; the sooner it is detected, the less damage will be done.

You should also set up an account to check on and report your credit rating; yes, these can be a bit tedious, but they can also alert you to any changes in your credit score or credit card usage.

And finally, it is always worth setting up a fraud alert with your credit card company; if your card is used in an unfamiliar location or a large amount of money is spent, you will be alerted.