Victim Support for Fraud Victims
Those who commit fraud do not care about the people that they hurt. They often drain entire bank accounts without so much as a second thought. As a result, they leave many people poor and destitute within the U.K. People who are already experiencing financial hardship are especially vulnerable. Thankfully, there are people who advocate for the recovery of victims’ losses. They work to help people get back on their feet, while educating them on how to spot fraud before it takes hold of their lives.
Many credit card companies offer different levels of fraud victim support. Most companies have an alert system which notifies the card holder of suspicious activity. Studies show that up to 55% of victims within the U.K. are not aware of the fraud until the damage has been done. This is why a timely alert system is so important. You might be notified by your credit card company or bank if sequential suspicious purchases are made. For example, if you fill your car’s gas tank for a purchase of £35.90 and then let your son use the same card to fill up for £30.85 an hour later, you might get a notification. This activity is categorized as suspicious because people generally do not make two consecutive large gas purchases.
It is important to report fraud as soon as it occurs. This allows your credit card company to reimburse you for money lost, and to stop further transactions from taking place on your stolen card.