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Credit card claim: Telephone scam targets customers' pin

A new investigation has revealed the severity of a telephone-based scam that sees fraudsters trying to get hold of British credit and debit card holders' details.

Financial Fraud Action UK and the UK Cards Association revealed that more than £7.5 million worth of fraud has already occurred in the first eight months of this year, with 1,600 customers falling foul of the scam.

The average loss per case is more than £4,200, affecting their ability to afford credit card charges and other expenditures.

There have been more victims between January and August this year than the whole of 2011, and the police are concerned with this spike.

Gangs are targeting elderly and vulnerable bank customers, with the average victim age standing at 69.

The con artists trick the victim by reassuring them that the call is genuine by asking them to hang up and call their bank for confirmation, when really they just stay on the end of the line.

They then ask them for their PIN or get them to key it into the number pad, before sending a courier to collect the card, with the owner believing it is on the way to the bank.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801502591-ADNFCR

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