Easier Fraud Reporting

11th April 2007

The new rules on reporting credit card fraud will make it easier for victims of such crimes to report them, according to the industry body, Card Watch which is a UK banking industry initiative, that aims to raise awareness of credit card fraud prevention.

CardWatch claim that the new regulations will cut bureaucracy and allow for less red-tape in the card fraud reporting process which in turn should make it more efficient for investigators who will be able to access all the latest information on a case.

The new procedures which come into effect in England, Wales and Northern Ireland on the 1st of April means that your credit card company has become the first point of contact for credit card and online fraud offences. In almost all cases card holders will be required to report instances of this type of fraud straight to their card issuer and not to the police.

Previously, card holders as the the victim had to conatct both the credit card company and the police, then then co-ordinate investigative efforts between all those involved. "This initiative is about making the system more efficient and joined up - the way it was required a lot of unnecessary bureaucracy" said Mark Bowerman, a spokesperson for CardWatch.