UK CARD FRAUD ABROAD UP 77%

International Currency Exchange (ICE) is warning British holidaymakers of the risks of credit card fraud abroad, as APACS reports that fraud on UK-issued cards is up 77%. With a significant rise in fraud in some countries, ICE is advising holidaymakers to reduce the risk of cards being cloned or stolen abroad and opt for pre-paid cash cards instead. Cards like the ICE Travellers cashcard provide a safer alternative to credit cards.

Unlike credit cards, where a fraudster could run up thousands of pounds against the victim's credit limit, the worst damage that a fraudster could do with a cash card is steal the total amount pre-loaded, even if he got past the Chip and PIN high level security on the card. It's easy to top up the ICE Travellers cashcard instantly on line so there's no need to keep a very high balance on it.

The success of chip and PIN in the UK means fraudsters are heading to other countries to commit credit card fraud, where this technology is not yet used. According to the latest figures from APACS, fraud abroad accounts for a third of total UK fraud losses and totalled £207.6 million in 2007, up 77%. France and Spain have each seen a decline in this fraud since the implementation of chip and PIN. However, in stark contrast, the US which doesn't use chip and PIN has seen a 118% increase in fraud since 2005, making it the top fraud destination. And as one of the most popular holiday spots for UK families especially with the pound holding well against the dollar ICE wants to make sure those heading across the pond are alert to the risks.

"Travellers heading to popular locations such as Florida and Las Vegas need to be aware of the risks and take precautions" warns Andrew Hamilton, Marketing Manager of ICE. "Many families will be looking to make the most of the strong pound against the dollar, but with card fraud hitting £24.6 million in the US in 2007, they should be concerned. Holidaymakers staying in Italy and Australia also need to be cautious, as both destinations have seen a spike in card fraud figures. Travellers should be very wary of letting their card out of their sight, for example always accompany a waiter or a pump attendant to the payment terminal".

"The ICE Travellers cashcard Prepaid MasterCard is PIN protected and limited to the balance on the card, offering holidaymakers greater protection from fraud and theft. Accepted at over 25 million ATMs, shops and restaurants in over 120 countries worldwide, our card carries the MasterCard brand and will be accepted wherever travellers see the logo displayed and the terminal is on-line".

No need to worry about the level of bank and credit card charges when you get back, ICE Travellers cashcards offer you the chance to fix the rate on Euros or Dollars before you travel and the simple tariff is clear to all (the card itself has no initial or monthly charge). No need to worry about credit card fraudsters or thieves spending up to your credit limit.

Hamilton concludes, "The ICE Travellers cashcard offers holidaymakers greater peace of mind, especially with the rising threat of card fraud abroad. Now people can travel with something that's safer than credit cards and smarter than cash, leaving them to enjoy their trip."