? Dispose of financial information carefully. One of the most common methods of procuring information for fraudulent purposes is to collect discarded credit card receipts. This is usually combined with ?skimming' - the process of taking a card's details, usually with a device that looks like a chip and pin machine. A fraudster using these methods would have enough details to duplicate your card and use it immediately.



? Check your statements regularly. Usually the duplicate card is used within hours to make expensive purchases very quickly. This is tell-tell sign that fraud has taken place, but unfortunately alarm bells may not ring until a certain amount has been spent or you notice irregularities on your statement.

In addition to shredding any paperwork that contains financial information, the same treatment should be applied to incomplete credit card application and offers as these can be pick from the rubbish and used to identify you as the next victim.

? Always sign your credit cards as soon as you receive them - an unsigned card has the potential to be used by anyone whose signature matches the writing on the back of the card.

A sensible precaution while abroad is to keep two different cards ? one on your person and one in the hotel safe and alternate between the two credit cards during the trip. This means that in the event of loss or theft you will not have lost all your spending power.

? If your card is lost or stolen, whether at home or abroad, notify your credit card provider immediately. Once you have informed them, you are no longer liable for any purchases following your call that occur on your card. The maximum payment you will have to pay is ?50 ? and if any transactions occur over the telephone, or over the Internet then you will not be liable for a penny.

There are now many reputable credit card cancellation schemes that you can sign up to. For a small annual fee, you are provided with a facility to store all of your credit cards details in one place as a safeguard. If any of your cards get stolen, they will handle the cancelling and re-ordering of all your cards for you ? it's a one stop shop rather than trying to remember which cards you've got and contact multiple providers.

Lastly it can never be stressed strongly enough: never give out any of your account or credit card details over the phone, email or Internet form unless you initiate the call and you know the company is reputable. Every day, unsuspecting consumers fall into a multitude of traps set by unscrupulous fraudsters