London's size 'makes it a credit card fraud hotspot'
Published On 21 February 2008
While London is a credit card fraud hotspot in the UK, this is not because its residents are more careless, an industry expert has said.Mark Bowerman, a spokesperson for the UK's payment association, Apacs, explained that there are more cards in use in London and therefore more transactions and retail outlets in the capital and this had helped credit card fraudsters.
Despite this, Mr Bowerman stressed that the fact did not suggest that Londoners were less careful with their credit cards.
"As long as you are a cardholder who's following common sense precautions you can minimise the chances of yourself becoming a victim; and [they are] the same steps to take whether you're in London or in Yorkshire," he explained.
"I wouldn't say it's anything to do with lifestyle, it's just to do with the fact that there are more cardholders and more retail outlets [in the capital]."
Finally, Mr Bowerman suggested that new types of credit card fraud typically start in London before spreading across the country.
Recent figures from the CPP Group indicated that almost one third (28 per cent) of all Londoners had now been victims of some form of credit card fraud.
