32% Write Down PIN
Survey shows widespread cardholder security risk
28th June 2005
A new survey by cardextras.com has revealed widespread 'negligence' by UK credit and debit card holders, with 32% writing down their PIN numbers in an effort to remember them.
Under the Banking Code, cardholders are not liable for any losses from fraudulent use of their cards, providing that they have not acted fraudulently or negligently - and writing down your PIN is regarded as negligent. So, if you write down your PIN, and a fraudster uses it to steal money from your account, you will not necessarily be compensated.
The recent introduction of Chip and PIN credit cards has been blamed in part for the situation, for although the system offers greater levels of security than the old signature-based system, the increasing number of PINs and passwords people have to remember can cause difficulties.
The survey, however, points out that although Chip and PIN allows cardholders to change their PINs to something more memorable, only 30% of people have done so.
Apacs, the association of card issuers, has released a free guide to remembering your PIN here (pdf file).
Read More: Money Guardian
|
More on Chip and PIN : Chip and Pin Returns to Shell (News, 04/09/2006), Chip and Pin Pushes Card Fraud Abroad (News, 12/05/2006), Shell Suspends Forecourt Chip and Pin (News, 08/05/2006), Credit Card Fraud Falls 13% (News, 07/03/2006), 3 Million Struggle with Chip and PIN (News, 30/01/2006), See all 15 Chip and PIN stories >>> |
|
More on Fraud and Security : Barclays Under Phishing Attack (News, 15/09/2006), Chip and Pin Returns to Shell (News, 04/09/2006), HSBC Call-Centre Employee Arrested (News, 28/06/2006), HSBC Call-Centre Employee Arrested (News, 28/06/2006), Shell Suspends Forecourt Chip and Pin (News, 08/05/2006), See all 32 Fraud and Security stories >>> |
Home - Credit Cards
