UK Money News
22nd April 2008
Brits ignoring risk of credit card fraud
Millions of UK credit card holders are failing to heed warnings over the rising tide of credit card fraud, a new poll suggests.
According to a survey conducted by moneysupermarket.com, ten million Britons persist in using the same PIN number for all their credit and debit cards - despite the increased risk of fraud that this presents.
The cause of this lax behaviour seems to be that consumers have difficulty remembering multiple PIN numbers.
This is born out by the fact that 11 million of those surveyed said that they are no longer using a credit card after they forgot the appropriate number.
Steve Willey, head of credit cards at price comparison site moneysupermarket.com, said: "Forgetting your PIN isn't a crime or a costly exercise - all it takes is a call to your bank to get a new one issued. After going to the trouble of choosing and opening an account, I'm shocked that 11 million of us have stopped using a card because of a forgotten PIN.
"Meanwhile, using the same PIN for each of your cards is a gamble ten million of us are taking - but I'd strongly recommend having a different PIN for each."
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