Hacked retailers a no-go with credit card users
Credit card fraud has been at the centre of concern amongst professionals and consumers in the UK for some time, and many consumers have expressed their wariness of using their credit card both online and on the high street for fear of becoming a victim of credit card fraud.
 And with fraudster bringing in more and more sophisticated methods in order to get a hold of credit card details, it seems that consumers are quite right to be concerned. A number of retailers, such as petrol stations and clothes shops, have recently become victim of security breaches where systems have been hacked by fraudsters in order to get credit card details.
And following these breaches it seems that ever-cautious consumers in the UK won’t wait for the once bitten twice shy scenario. According to recent data over fifty percent of consumers would not consider shopping by credit card at any store or retailer where this type of security breach had taken place.
The survey was carried out by the security firm Secerno. However, the fear now is that some retailers may not disclose details in the future should this type of breach occur, which means that consumers that choose not to use their cards with a retailer that has had security breached will never actually find out.
In response to the survey 95% of consumers said that they were concerned about theft of personal data, and a further 82% said that they would want to be informed about such security breaches as quickly as possible. However, unlike the United States Europe has no law that states such information has to be disclosed. Amongst those that have suffered recent security breaches is TK Maxx, where around 45 million card details were stolen after systems were hacked.
Tom Smith
27th April 2007
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