Consumer caution urged over phishing threat

Tuesday, 1 Apr 2008. Categories: UK

Consumers in Europe have been urged to be wary of online security threats when using their credit cards.

Mary O'Dea, consumer director of the Irish Financial Regulator, made her comments to the Irish Independent.

She highlighted that sensible consumers are wary of pickpockets in crowded areas, adding that similar caution is required to protect credit card details online.

"Criminals have caught on to the huge take-up in internet banking and are using scams to lure unsuspecting customers into revealing their account information online," Ms O'Dea warned.

To ensure any online theft is detected, consumers must regularly check their bank statements, she added.

Britain's Financial Services Authority warns that phishing attacks pose an increasing financial crime risk as they expose consumers to the possibility of identity theft.

It believes that one effective way to combat the online threat is for firms to educate their consumers and for businesses to have well-defines procedures and responses in order to address attacks.

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Consumer caution urged over phishing threat

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