Many people are putting themselves at risk of identity fraud by disclosing their chip and PIN details to family and friends, it has emerged.
Research from LV= found that over eight million adults have disclosed such information, with 24 per cent then falling victim to fraud.
"Not only does it undermine the security of your account and increase the risk of ID fraud, but also card holders could end up out of pocket if they are found to have shared their card details," noted John O’Roarke, managing director of LV= home insurance.
Websites, petrol stations and cash points are just some of the common places that fraud occurs, the insurer claimed, as people send their loved ones to make purchases on their behalf.
Businesses are also not paying attention to this growing trend, as 98 per cent who have used another person’s card believe they have not been caught.
There were 2.8 million fraudulent transactions on UK-issued cards recorded in the UK in 2008, an increase of four per cent from 2007 (2.7 million), according to figures from the British Crime Survey.