Check credit card statements for signs of fraud

News Release

New Zealanders should check credit card statements for signs of financial fraud as Christmas bills roll in

Consumer vigilance the best defence against ID theft and financial fraud

As the Christmas credit card bills roll in, New Zealanders are being urged to check their statements thoroughly for signs of identity related fraud and crime.

“The sheer number of transactions over the pre and post Christmas shopping periods mean it is even more important to check your bills as they come in,” said Unisys Security Webber, Manager Enterprise Security for Unisys Asia Pacific.

The warning reinforces findings of the Unisys Security Index(1) which shows that 1.6 million New Zealanders are extremely or very concerned about credit and / or debit card fraud which is the highest issue of concern out of 8 security issues polled in the Unisys Security Index.

“The Christmas and New Year sales periods have both seen enormous levels of activity by New Zealand consumers(2) yet it is busy times like this when the volume of transactions is high(3) that financial fraud is not only more likely to occur, but can be harder to spot,” Mr Webber said.

“The Unisys Security Index has found 51% of all New Zealanders are extremely or very concerned about other people obtaining or using their credit and / or debit card details.

“So our message to New Zealand consumers is clear – check all the transactions listed on your statement and make sure you can account for each and every one of them.

“If you are unsure about a transaction, no matter how small, check it out with your bank and or financial services provider.

“January is also a great time to start good habits to help reduce your exposure to identity theft and financial fraud.

“Our research shows that many New Zealanders take unnecessary risks which place them in danger of falling victim to identity theft.

29% of New Zealanders never destroy bank and credit card statements before they throw them away

29% of people never read the privacy policies of organisations they deal with.

A further 22% of New Zealanders said they relied on easy to remember numbers such as family birthdays when creating a new PIN number.

“Consumer vigilance is one of the most important weapons against identity related crime and financial fraud and there are many simple steps that people can take to give themselves added security, including:

Change your Pin or Password regularly for your internet and phone banking
Lock your mail box to ensure that statements and other personal information does not go astray
Get bank and credit statements delivered electronically
Pick a time during the week to closely review all bank and credit/debit card statements for illegal transactions
Do not keep bank account details and passwords in bags, purses or wallets as they can be lost or stolen
Regularly check your credit history to see if someone is seeking credit in your name
Shred all private documents – anyone could go through your rubbish
Only use secure transaction methods for online shopping.

A series of tips can be found at which provides consumers and the public with easy to follow tips to help keep personal information and finances safely protected.

Ends

(1) The Unisys Security Index™: New Zealand – conducted September 2008 (www.unisyssecurityindex.co.nz) The Unisys Security Index was developed as regular measure of community attitudes towards a range of financial, personal, internet and national aspects of security. It is New Zealand’s only regular snapshot of public perceptions towards security.

(2) Paymark media release: “New Christmas Eve Record as Kiwis spend $4 Billion in December”, http://www.paymark.co.nz/cms_show_download.php?id=182

(3) Visa Europe processed 715 separate transactions every second in the lead up to Christmas 2007

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