Shoppers 'should head to the shredder'

Consumers with credit cards should shred their bank statements after reading them in order to keep their cash safe from thieves.

Such is the claim of Adelaide Now, which has warned that many fraudsters are now looking to take advantage of careless shoppers using their credit cards online.

Rory Matthews, managing director of credit reference agency Veda Advantage, told the paper that Australians need to pay more heed to fraud risks.

“Millions of young people in particular disclose similar private information on social networking sites as well as other online websites, without considering where that information might end up,” he warned.

To stay safe on the web, he advised shoppers to make sure they changed their passwords regularly and stay away from emails that ask for personal information.

Recent figures from the Australian Bureau of Statistics have shown that five per cent of the total population have had money stolen from their bank accounts, at a total cost of nearly $1 billion dollars.ADNFCR-1761-ID-18760493-ADNFCR