An investigation by This is Money has revealed that the credit and debit card passwords and PINs of thousands of UK bank account customers are being sold on Russian websites for as little as £19.
This sale of personal details is giving criminals the opportunity to get their hands on important debit/credit card information and online banking passwords from rogue websites - posing a serious security risk for some banking customers.
The investigation found that the details have been stolen using devices on cash machines, or through online scams that trick banking customers into giving their card numbers and PINs. These websites contribute to the £308 million worth of UK card fraud committed every year.
One Russian website offered UK credit cards, including complete details of the person's identity, for just £19 each. For a cost of £190, the seller claimed to be able to offer access to a British bank account with an £8,000 credit limit.
Customers who fall victim to these scams are usually refunded by their bank, but this cost is usually passed back to customers in the form of increased fees and charges for other services.
To improve banking security, it's important to frequently change your password and always keep it safe. Anyone looking for advice about keeping their online bank account secure could read thinkmoney's guide to mobile & online banking .