Updated: 11/15/2008 12:55
Reprints/Permissions  Hyip Monitor
The CPP group, a life assistance company came up with shocking discovery one in five under 16s defrauded their parents by using their credit cards

The CPP group, a life assistance company came up with shocking discovery: one in five under-16s defrauded their parents by using their credit cards without permission. The average amount of that forbidden spending is nearly 200 EU a year. The results of survey the CPP made show that more than one million kids use their parents' cards and online accounts to buy goods without noticing their parents. As average purchase by under-16s is worth $ 23.90 and average amount of tryouts is about 7 a year, so children cause 200 EU of defraud of their parents totally.

As Mike Lynch, CPP identity fraud expert noted the involvement of teenagers in the defrauding processes was not expected in that rate. Even though it was known that online card fraud continues to grow, the extension of teens' involvement in online fraud nobody was even thinking of.

Additional research held by Dubit, a financial services and identity protection firm was purposed to quizze 500 adults and 500 children aged 8 to 16 in the UK about their online buying habits and analysis online fraud activities. It was figured out that only 2% of parents think their kids could have bought goods online without parental permission. But in fact 20% of kids avowed that did it. Also only 6 % of parents knew their kids could access to their credit card details.

The CPP experts consider that parents need to enforce good online disciplines on their children in order to avoid defrauding. Also parents are advised not to leave credit card details around because it may cause children curiosity and make them tempt into fraudulent purchases. Lynch also recommended never click on "save these details" when logging in as it provides more possibilities for hackers and criminal fraudsters to attack the accounts.

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