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Volume 451: debated on Wednesday 8 November 2006

To ask the Chancellor of the Exchequer what assessment he has made of the effectiveness of the regulations to protect credit card holders from fraud. (99038)

[holding answer 2 November 2006]: I have been asked to reply.

Section 83 of the Consumer Credit Act 1974 makes clear that a debtor would not generally be liable for the misuse of their credit facility by a third party and I am satisfied that this is an appropriate protection against credit card fraud. In addition, I know this is an issue the industry as a whole takes extremely seriously. In recent times significant anti-fraud initiatives such as chip and PIN and a Dedicated Cheque and Plastic Crime Unit have been put in place as part of an on-going campaign to tackle payment fraud in all its forms.