Loose lips in the workplace leave workers open to fraud

One in five people in the UK (20%, or 8.8 million) admit to reading their confidential financial information out over the phone whilst at work, leaving themselves open to fraud according to research by PayPal, the online payment provider.

The study of financial security in the UK also revealed that a further 13% of people reveal confidential information, such as credit and debit card details, in public places such as in a pub, shop, restaurant or on public transport. A further 9% admit to also disclosing such information when at a friend’s house.

Neil Edwards, Head of Financial Planning at PayPal UK commented: “Considering that many of us now spend more time at work than we do at home it is no wonder that we feel safe when at work and hardly surprising that people feel comfortable paying bills and checking statements at work. However, the workplace is in fact the second most vulnerable place for fraud and consumers are misguided in simply assuming that they are safe and trusting those around them as much as they would family or friends. A worrying number of employees disregard the danger and read out confidential bank and personal information over the phone whilst at work, sometimes in front of significant numbers of people. By doing so they are putting themselves at risk.”

When it comes to risk, 26% of people felt their money and payment cards were most at risk when revealing confidential information over the phone, stating they felt it was ‘very risky’. This is compared to just 13% of people in the UK who say they feel giving financial details online is risky.

Edwards continues: “It surprises me to hear how many people disregard the danger of providing bank and personal information over the phone whilst at work, sometimes in front of significant numbers of people. By doing so they are putting themselves at risk. Paying over the internet is an easy and safe choice, and one that people in the UK need to become more aware of, if they are to significantly reduce the chances of their personal information being left wide open to fraud.”

PayPal is a leading online payment authority for shoppers. To find out more or to set up an account please log onto: paypal.co.uk.