Recent news revealed that fraudulent operators from India siphoned off big chunk of the 535 million pounds from various account holders in UK. This was sensational to say the least. Credit card scams are not new and you might have been finding such news from time to time in the media or the web. However, this was uk credit card fraud and india was linked to the scam.  

No less than twenty five percent of the fraudulent use of credit cards was due to the use of counterfeit cards or such cards that were stolen abroad. While you will find credit card usage on the increase in india there had been a phenomenal rise in credit card fraud overseas. It was estimated that over 208 million pounds were involved and the rise in fraud was more than 77%. Many British account holders found to their horror funds withdrawn out of their accounts not only in India but also in economically advanced countries like Australia and Canada. 

Such a scam was unearthed recently in Lincolnshire where several holders of credit cards suffered similar fate after filling gas from a refueling station. The process is simple. Hidden cameras take photographs of your card details and counterfeit cards are easily manufactured using them. 

Banks in Britain have come up with a chip and pin system for transactions involving credit cards. Thus you can no more carry out a transaction with the card alone.  You have to punch an additional pin number that would be only known to you as card holder in your memory. The process has considerably reduced the scope of credit card misuse now.