Beware fraudsters at Christmas

Borrowers should keep an eye on their finances over Christmas as it can be a key time for fraudsters, according to new advice.

Neil Munroe, external affairs director at credit reference agency Equifax, has said that people cannot afford to be lax with financial details over the festive season.

The expert explained that shopping receipts contain debit and credit card details and can easily be used by fraudsters to hack into bank accounts.

"Christmas is the fraudster’s festive season as much as the individual’s," he commented, suggesting that people tend to be "a lot more lax this time of year".

Leaving credit cards behind bars when out for festive drinks can also be a danger for people over the Christmas season, as cards can easily be taken by fraudsters.

"We have more fraudsters at work now," Mr Munroe warned, reminding borrowers that "there has been a concerted effort into ID fraud by criminal gangs who use it to raise funds for their other activities".

Some 25 per cent of the UK population have been affected by ID fraud.