In the past 12 months, more than eight million adults have given their chip and pin details to someone else to make a purchase on their behalf or get money from a cash machine for them and a quarter (24%) of those people have then fallen victim to fraud, according to research from Liverpool Victoria, a UK-based financial institution.
One in three Brits (34%) say they have been asked to pay for goods or take money out on someone else’s behalf. The research shows the most common fraud spots are Web sites, petrol stations and cash points are among the most common locations for people to use friends’ and families’ cards, with the most popular ‘pin pals’ being spouses or partners, although children (20%), parents (17%) and friends (15%) are also commonly relied upon to make purchases on other people’s behalf.
The worst offenders of giving out PINs are those under 35, with 36% admitting they have asked someone else to use one of their cards.
Experts warn that by sharing pin numbers with others, card users are exposing themselves to fraud and seriously weakening the security of the chip and pin system.