Banking news
Millions of Brits leave themselves wide open to fraud
10 January, 2007
Taking unnecessary risks with your finances can make you a perfect target for fraudsters looking to steal your identity.
The most common sin amongst the population is throwing away bank statements and related documentation without shredding them first, with 40 per cent admitting they are guilty of taking this risk.
The second most common risk taken by Brits is using the same PIN and password across all their bank accounts and credit cards, meaning that if someone gets one, they get them all. It may be easier to remember when it comes to tapping your code in a machine, but if your wallet gets stolen and the thieves crack your PIN, they can then help themselves to all of your accounts.
People also tend to make themselves an easy target by writing down PINs and passwords in ‘secure’ places, sharing personal information in public (such as over the telephone while working) and sending their bank details over unencrypted email.
Patrick Muir, marketing director of the Morgan Stanley Credit Card says: “The findings of our study fuel concerns that Britons are not taking heed of warnings to protect themselves. There has been a lot of attention places on the issue of ID Theft but, worryingly, many people still don’t believe it could happen to them.”
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