Loan Lost In Credit Card Scam
A Christ Church student who has fallen victim to credit card fraud has urged caution
A Christ Church first year has had his entire student loan stolen after falling prey to credit card fraud. The student, who does not wish to be named, discovered that he was £700 overdrawn last Sunday, even though he had only received his student loan a few days previously. He had yet to pay his battels. The student’s credit card details were also used to buy a computer on the Internet costing around £1,500.
The student believes the fraud may have occurred when he bought a pair of trainers in an Oxford sports shop last Thursday. He believes his card was skimmed – a process where the information held on the card’s magnetic strip is copied electronically onto another card without the owner's knowledge. The new card can then be used for purchases. This is especially easy if they are ordered over the internet or phone as no form of identity such as PIN code or signature is required.
The students suspects the shop assistant of committing the fraud and alleges she was acting extremely nervously, took a long time to return the card, and kept her back turned during the transaction. It was the first purchase he had made on his credit card for some weeks and he claims to have only used it on one occasion afterwards. The student told The Oxford Student: “It was too much of a coincidence that this was the first time I’d used my credit card for ages and then this happens.”
The manager of the store told said: “We don’t know of any fraud,” and said he would need more information about the event before any action could be taken. The manager also said the store uses a chip and pin system to prevent fraud. NatWest, the bank with which the account is held, have said the student will not be liable for the money lost.
The police have been contacted and are investigating the report, although the student does not expect a quick response saying it would understandably not be a top priority. The company who sold the fraudulently-bought computer, Dell, when contacted said they will not deliver the goods. The student says he hopes others will be more careful when using their credit cards.
“All of the people I’ve talked to don’t know what skimming is, it’s important that people keep an eye on their card all the time.” Credit card fraud has been on the increase in the UK, going up generally by 20 per cent with skimming increasing by 17 per cent. Thames Valley Police were unable to comment on the case in question, but recommended students make a note of the card issuers emergency contact details.
5th May 2005