Are your kids shopping online with your credit card?
Card Not Present (CNP) fraud is on the increase and it seems that at least some of it originates closer to home than previously thought.
According to a new survey 1 in 5 of the UK’s under 16s admit to using their parent’s credit card details to make online purchases – spending an estimated £191 million between them.
The survey, commissioned by life assistance group CPP, reveals that the average amount spent is £25 but 1 in 20 are spending between £75 and £100 each time.
With a third of parents storing their credit card details online and a fifth of children knowing the user names and passwords used it makes it very easy for children to make illicit purchases – even if they don’t have access to the cards themselves.
The survey also shows that only 6% of parents think that their children know their credit card details and only 2% would ever imagine their children using their cards without permission.
