Over 300,000 shoppers may fall victim to fraud on the high street this Christmas

(09/12/2009)

According to new figures from CPP, 315,000 shoppers risk falling prey to card fraud during the festive season, with the average sum set to be over £600.

This retail fraud epidemic is being fuelled by shoppers coming back to UK high streets. With an average Christmas present budget of £395, Brits are rejecting online to favour street shopping. Sixty-five per cent will be buying at least half their gifts in person, while almost two-fifths will purchase the majority of presents on the high street, compared to just a quarter who will do so online.

This return to the high street is being fuelled in part by concerns about postal delays – one in four is worried that online orders won’t arrive in time for Christmas. CPP warns that the number of lost and stolen cards will peak on 18 December as stressed out last-minute shoppers become less careful with their bank cards.

Three quarters (75 per cent) of shoppers find the experience stressful, which psychologists show makes them more susceptible to theft. The hurly burly of festive shopping also means people lose track of their spending, leaving them at risk from fraud as suspicious transactions can go unnoticed. A third of shoppers admit they lose track of spending and a fifth don’t check their receipts against bank statements after they get home.

Dr Glenn Wilson, Visiting Professor of Psychology at Gresham College said: "Last minute Christmas shopping on the high street is a stressful experience. Stress affects people in many ways, both physically and psychologically. Heart rate and blood pressure rise, and there is an increase in anxiety, distractibility, confusion and forgetfulness, all of which makes people more likely to lose things, such as their bank cards, and be more at risk of theft".

Sarah Blaney, card fraud expert at CPP, said: “More and more consumers are aware of the risks when shopping online and are vigilant about keeping their passwords and personal details safe. However, we often get caught up in the hustle and bustle of the high street: a combination of crowds and pressure to find the perfect present can lead to our attention wandering.

“Retail fraud remains a problem despite the introduction of Chip and PIN verification. In the first six months of 2009 it totalled nearly £35m. However, lost and stolen cards can be used to make illegal purchases online, which is the largest type of card fraud totalling £134m in the first half of the year.

“It is important people protect their PIN numbers and check their receipts against their bank statements on a regular basis. We all need to be responsible to stop fraud. Card protection can give shoppers valuable peace of mind, helping them to cancel and replace their cards immediately should the worst happen and provide fraud victim support.”

Key statistics
· The average sum stolen from card fraud victims stands at £623
· A fifth of card fraud victims report having over £1000 fraudulently taken from their bank accounts
· 65 per cent will be buying at least half of their gifts in person this Christmas
· 37 per cent will purchase the majority on the high street compared to 27 per cent online
· 25 per cent of Brits are concerned that online orders won’t arrive in time for Christmas
· 75 per cent find Christmas shopping stressful
· 33 per cent admit they’ve lost track of spending over Christmas
· 20 per cent don’t check their receipts against bank statements
· 10 per cent confess they have thrown away receipts containing card details

Top tips from CPP to help avoid being a victim of card fraud
1) Don’t carry multiple debit/credit cards in a wallet – only carry the essential cards you need
2) Don’t leave belongings unattended while shopping
3) Don’t carry debit/credit cards loose in a bag or pocket
4) If your cards are registered with a Card Protection company make sure you have their emergency loss reporting number
5) Don’t ever write down your PIN number
6) Don’t let a shop assistant take your debit/credit card out of sight – they could be copied or cloned
7) Don’t let someone else take money out on your behalf
8) Check your receipts against your statements when you get home
9) If you are concerned your cards may have been lost or stolen, contact your bank immediately to get the card cancelled
10) Make sure your bank has up-to-date contact details for you, including your mobile phone number in case they need to check if transactions are genuine

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