With APACS revealing credit card fraud had risen by 25 per cent in 2007, research from Saga found that people aged less than 50 years old, and especially men, are more likely to be the victims of card fraud or identity theft. This they say is down to the fact that younger people tend to have multiple credit and debit cards which makes fraudulent activity harder to spot.

Of those surveyed, 94 per cent admitted to owning a credit or debit card with 86 per cent saying they have up to four different cards. Over half of those questioned said they carried all their cards with them at the same time, further increasing the risk of fraud should their wallets or purses go missing.

The report from Saga also showed that 22 per cent of people aged between 18 and 34 years old, with multiple cards, and 16 per cent of those aged 35 to 49 years old, only used their extra cards once a year. However, long periods of time without using the cards, makes it harder to identify if the card has been used fraudulently.

One in 10 cardholders only, admitted to keeping their cards in a secure place which highlighted a need for card protection against loss or protection. Saga's research illustrated the laid back approach younger people have towards guarding themselves against fraud with just 66 per cent of those who discovered their card had been lost or stolen, making an effort to report it straight away. This is in comparison to 78 per cent of cardholders aged over 50 years old who took action immediately.

Chief executive of Saga Group Limited, Andrew Goodsell said, “Our study shows a worrying trend that men and younger people are generally less concerned about ID fraud than their older counterparts, and are not taking the steps to prevent fraudulent activity. However, prevention is always better than cure, and we urge everyone to be cautious when using and handing over credit cards to strangers because fraud is on the increase.”

An astonishing 88 per cent of customers aged between 18 and 34 years old say they would not object to their card being taken out of sight when paying in a shop or restaurant. Just over half of those aged 50 year olds or more were happy for the same to happen.

People who bank or shop online also tend to be of a younger generation and this has also help the increase in people aged less than 50 become the victims of fraud.

Jemma Smith, APACS spokeswoman said, “There were zero online banking fraud losses in 2003 in the UK.” That figure had shot up to £33.5 million being lost by 2006.

“The increase in internet fraud could be expected when you look at how many more businesses are accepting online transactions. The problem is that criminals are targeting the customers more than the technology. It is about hacking into computers as much as it is about tricking users into revealing their card or account details. That is why opening an unsolicited e-mail is like opening the front door of your home to a stranger,” Smith said.