Credit card fraud
At Vanquis, we’re always working hard to protect our customers from fraud. Read on for how to spot the warning signs of a scam, plus tips to protect your credit card and personal info.
What is credit card fraud?
Credit card fraud is when someone uses your credit card or it’s details without your permission. This could mean applying for something in your name, buying items, or stealing money from your account.
What are the types of credit card fraud?
Lost or stolen cards
If you lose your card or it gets stolen, someone else could use it to make purchases.
Phishing websites
Criminals create fake websites that look like real ones to steal personal info when you enter your details – which could include your credit card info.
Email scams
These are false emails designed to trick you into revealing sensitive info by clicking on malicious links, downloading attachments or sending money.
Social engineering
This common scam tricks you into sharing your info by pretending to be a trusted organisation. Criminals might reach out via an email (phishing), text (smishing), or phone call (vishing).
They can even fake real phone numbers or email addresses to seem legitimate – so it’s important you find a trusted contact number or email address before responding.
‘Skimmed’ credit cards
Skimming devices read the info from your card without your knowledge when you use an ATM or card reader.
Cloning
This is when a criminal steals card info by copying the data from a legitimate card onto a blank card.
Stolen card details
Criminals might access your card number through hacking or if you buy from unsafe sites. They then go on to buy goods or services using your card details. Have you found a transaction you don’t recognise? Find out what to do in our useful guide.
Fraudulent applications
A criminal could apply for a credit card with someone else's identity, leading to debt for the victim. We use different ways to spot fraudsters during our application process. This includes checking if the applicant is on a sanctioned list, appears suspicious in any way, or if the application seems fake.
Phishing fraud
Phishing can be fake emails or texts. These usually try to trick you into visiting a website to enter your personal and financial info. Don’t click links or attachments in unexpected emails or texts. If you're not sure, reach out to the company using the contact details on their website.
Digital wallet scams
Criminals are adding victims’ card details to digital wallets to buy goods online. They pretend to be real organisations to get card details then persuade the victim to share their one-time passcode. They usually say it’s to stop a fraudulent transaction, when in fact it's so they can add the card to a digital wallet.
Who is responsible for credit card fraud?
If you’re a victim of fraud, you wouldn’t normally be held liable for unauthorised charges on your credit card related to the fraud. This is because you’re covered under the Consumer Credit Act 1974. This Act means you can claim back any money you lost to fraud.
It’s important to tell your bank or card issuer as soon as you notice any suspicious activity on your account. If you’re seen to be involved in the fraud or if there are signs of negligence, you won’t be eligible for a refund.
What is considered negligence for credit card fraud?
You may show negligence if you:
- Fail to report the fraudulent activity and it’s been 13 months or over
- Didn’t protect your card details or you use passwords or PINs that could be easily guessed
- Deny authorising a transaction when the credit card provider has proof you did
- Fail to report a lost or stolen card straight away
- Ignore suspicious transactions on your account, or pretend a payment wasn’t yours when it was
- Leave cards unattended or in unsafe places
Tips to identify credit card fraud
Check your credit card statements and accounts regularly
Monitoring your accounts helps you detect unauthorised transactions early. Plus, apps like Snoop can help you see all spending in one place, with one list of transactions, making it quicker and easier to spot spending you don’t recognise.
Check your credit reports
You can check your credit reports for free with TransUnion, Experian, and Equifax. Doing this regularly can help you detect fraudulent attempts to get credit in your name.
Contact us if your card is declined
If a transaction doesn’t go through, please get in touch, so we can explore the issue.
What to do if you’re a victim of credit card fraud
Rest assured, Vanquis is always monitoring for fraud to keep you and your money safe. If your account is at risk, we’ll act to protect it (for example, putting a block on your account).
- If you’ve shared your passcode or card details, lost your card, or been scammed, call us right away on 0330 099 3000*. You can report a lost card in the Vanquis app.
- You can also report it to Action Fraud by calling 0300 123 2040. This will help in the fight against fraud.
- If you believe you’re at risk of fraud, it’s a good idea to change your passwords and PINs. This is because your other accounts could also be at risk.
If you’re not a Vanquis customer, contact your card provider and tell them you suspect you’re a victim of fraud. You can do this using the number found on the back of your card or on their website. You can also contact Victim Support. This is an independent charity that helps people affected by crime.
Protect yourself by being cautious and remember, if you think something seems suspicious, you’re probably right.
Tips to avoid credit card fraud
Credit card fraud is a risk we all face. But there are several things you can do to protect your personal info.
Card security
Keep your card close
Always keep your credit card in sight when using it. When it’s not in use, keep it somewhere secure and avoid leaving it out in plain sight. It only takes a minute for criminals to copy down the info.
Use contactless when you can
Contactless payments can be more secure than using your PIN. They often need less physical interaction and can help reduce the risk of card skimming.
Guard your PIN like your keys
Your PIN is an essential part of your card’s security. Sharing your PIN, even by mistake, can open the door to identity theft and financial loss. When entering it into a device or ATM, be cautious and ensure no one is watching.
Report missing cards straight away
If your card is stolen or goes missing, contact your bank or card provider immediately to report it. This will help prevent unauthorised charges.
Never share one-time passcodes
Never share one-time passcodes with anyone over the phone, by text message, or by email. Doing this could let someone access your account, spend your money, or change your details.
Personal info protection
Protect your personal details
Don’t share your personal info with anyone without verifying they’re real first. If you’re not sure, contact the company directly by using a phone number on their website. It’s also important that your contact details are up to date. At Vanquis, if we spot a suspicious transaction or activity on your account, we’ll reach out to you.
Think before you share online
Be careful about what you post on social media. Also, watch out when clicking on ads, especially any asking for your info. Criminals may use scam ads on search engines and social media with fake phone numbers.
Stay alert to unexpected calls or texts
Criminals can trick you into sharing your personal info by ‘spoofing’ a real company’s phone number.
Fraudsters will change the caller ID to disguise their identity and make it look like a call from a real organisation’s number, like ours, to try and trick you.
They can do this with a text too. This will show up in your text history with the company’s name, even though it’s a scam text.
If you receive a call that doesn’t seem right, hang up immediately. If it’s a suspicious text, don’t reply. Phone the real company using the number on their website to check it was them calling or texting you.
Suspicious emails
Avoid opening emails, attachments, and clicking on links in messages you weren’t expecting.
If you’ve had a suspicious email that claims to be from Vanquis and you’ve shared personal info, please get in touch as soon as possible. We’ll take steps to help secure your account.
Digital safety
Update your tech and passwords
Regularly update your devices and use strong, unique passwords for your accounts. Make sure your computer has anti-virus software and a firewall installed to protect it from viruses and hackers.
Avoid public Wi-Fi for payments
Public Wi-Fi networks can be less secure. Use your data or a trusted Wi-Fi network for transactions.
Look for secure sites (https): Make sure any site where you enter personal info has ‘https://’ in the URL. This means it has a secure connection.
Log out when you’re done
Always log out of your accounts when you’re done, especially on shared or public devices.
Don’t store card details online: Avoid saving your card info on websites to lower the risk of them being stolen in a data breach.
Verification and checks
Check before you pay
Review your purchase details carefully before making a transaction. When paying an online retailer or auction site, use a secure method, such as a credit card or PayPal.
Check companies before you trust them
Research the company and read reviews before making a purchase. Criminals trick consumers into paying for goods and services that aren’t real. They often advertise these on fake websites, auction sites, or social media, using real images.
You can check if you’re on the real website, not a fake one, by using the Get Safe Online tool. If you think a website is suspicious, you can report it to the National Cyber Security Centre (NCSC).
Set up alerts to spot fraud early
Most banks offer alert systems that notify you of suspicious activity or transactions.
Mail and document security
Keep an eye on your post
Check your post for bank statements or credit cards that go missing or don’t arrive, as this could signal potential fraud.
Shred sensitive documents
Dispose of documents with personal info properly, including bank statements and credit card offers. Criminals may go through your rubbish to look for these types of documents.
Cut up old cards the right way
When you throw away old cards, cut them up well. This stops criminals from stealing your details.
Good to know
Vanquis will:
- Never ask for a one-time passcode over the phone, email or text.
- Never ask you to click on a link to verify a transaction. We’ll only ask you to reply with a ‘Y’ or ‘N’.
- Never ask you for your security details, such as your PIN, email, passcodes, security numbers or biometric info.
- Protect your account and always monitor for fraud. If your account is at risk, we’ll act to protect it (for example, putting a block on your account).
If you think you’ve been a victim of fraud on one of your Vanquis Credit Cards, contact us immediately on 0330 099 3000*.
Take Five to Stop Fraud
We support Take Five to Stop Fraud, a national campaign offering impartial advice to help prevent email, phone, and online fraud.
Criminals use a wide range of methods to steal your personal information or money. They often use social media, emails, texts, phone calls and fake websites in their scams.
They might use your information to access your account directly and take money out. Or they might create convincing scenarios to try and trick you into sharing your information or making a payment.
Always remember to…
Stop
Taking a moment to stop and think before parting with your money or information could keep you safe.
Challenge
Could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.
Protect
Contact your bank immediately if you think you’re a victim of a scam and report it to Action Fraud.
