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Kids 'using parent's credit cards online'

Kids 'using parent's credit cards online'

• Pay off those credit cards with a remortgage or loan

 

It is easy for children to use their parents' details to shop online and most do not realise they are committing fraud, it has been suggested.

The modern practice of kids using their parents' credit cards has been compared to taking "money out of the sweet jar" by Michael Lynch, a fraud expert for life assistance company CPP.

He remarked: "Nowadays it is much easier for them to take money from credit cards. They are not dealing with hard currency so it doesn't feel real like an actual theft."

Bills of up to £150 are being racked up in such cases, he revealed.

His comments follow a CPP report that showed 23 per cent of children have been able to shop online without their parents' or guardians' knowledge.

And it would appear that most families are unaware of this problem, as 95 per cent of adults stated it was impossible for their kids to have purchased anything without their knowledge.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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