March 27, 2024

SHOPPERS MAKING LAST minute purchases ahead of Christmas have been urged to keep their card details safe as debit and credit card fraud continue to spike. 

The Banking & Payments Federation Ireland (BPFI) has issued guidance this year for people paying for gifts online. 

The BFPI, which is the main representative body for the banking and financial services sector in Ireland, reported near record levels of payment card fraud last year, as many people switched from using cash and shopped online more during the height of the pandemic. 

Their latest report showed how card fraud hit €24 million in 2020 with the vast majority of it taking place online. Latest figures show over a quarter of a million fraudulent debit and credit card transactions which were not made by the card holder. 

The figures were the highest since the second half of 2017, the BPFI warned.

The figures mean that card fraud losses rose by 9% in 2020 with the vast majority of this (96%) accounted for by online card fraud which rose by 21% to €23.1 million.

The BPFI, along with gardaí, have urged all those planning on doing the last of their shopping online to be extremely careful and to remember one golden rule: if something seems too good to be true, then it usually is. 

Common scams

The BPFI warned that criminals often take advantage of ticketed events, especially if sold out, such as concerts, festivals, sporting events and live comedy.

“You buy your ticket…

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *