More than 70 per cent of students insufficiently destroy used card receipts and old bank statements putting themselves at unnecessary risk of financial fraud, according to new research.

The statistics, from an online survey by financial data experts Moneyfacts, also found nearly 50 per cent of undergraduates allow other people to user their bank cards and 62 per cent have been given someone else's card and PIN to use.

Almost a third use the same PIN number for all their bank cards and more than a quarter keep a record of their PIN numbers in a mobile phone or PC; in code in a wallet or purse; or another 'safe place'.

"With finances already tight for students, this is alarming evidence that they are putting themselves needlessly at risk of financial fraud," said Ben Williams, finance officer of the Union of UEA Students.

"We look forward to exploring ways that we can use these findings to help raise awareness amongst the student community so that students can better protect themselves in the future."

However, some students are more security-conscious as nearly 70 per cent arranged for banking cards to be sent to their family home rather than their shared term-time address and 72 per cent wisely memorised their PIN numbers and then destoryed the slip.