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PayPal warning: involuntary workplace disclosure

08 January 2007
Workplace chatter can be a real threat to financial security, online payment provider PayPal warns, as it reveals that one in five people have read out their confidential financial information over the phone while at work.

Another 13 per cent of people expose themselves by disclosing credit or debit card details in pubs, shops, or on public transport.

"The workplace is … the second most vulnerable place for fraud and consumers are misguided in simply assuming that they are safe and trusting those around them as much as they would family or friends," claims Neil Edwards, head of financial planning at PayPal.

Giving out confidential details over the phone leaves personal information "wide open to fraud", he argues.

"We've all heard people talking too loudly on their mobiles in places where anyone could overhear personal details," British Bankers' Association chief executive Angela Knight noted recently.

Card-not-present fraud, which includes both telephone and online fraud, is the most prevalent type of fraud in the UK, costing over £183 million last year according to the UK payments association Apacs – and it has increased by five per cent in the last five months.

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