As technological advancements continue to surge ahead worldwide, credit card fraud is consequently on the rise. Fraudsters are continually finding new and more innovative ways of catching unsuspecting victims.
What are some of the most common methods of credit card fraud?
Some fraudsters aren’t beyond making use of discarded billing statements in order to use your account information to buy things.
Retail or bank websites may be hacked, consequently putting clients’ information at risk.
Dishonest clerks or waiters may use your account details to create another account to buy items.
If you give your account details to third parties, you may be creating avenues for credit card fraud.
Card skimming, which involves the use of handheld skimming devices whereby a PIN is stolen by looking when the victim enters it, or by using thermal technology.
There are some steps you could follow as a method of credit card fraud prevention.
Credit Card fraud prevention tips:
- Don’t lend your cards to anyone
- Don’t leave your cards, receipts or statements lying around your home or office
- Don’t give your credit card details to anyone on the phone
- Never sign a blank receipt
- Always check your bank statements for suspicious transactions
- Never divulge your PIN to anyone. Keep your PIN safe and ensure that you never write this number down and leave the note with the card.
- Ensure that you place orders with your card only using a reputable and secure website when shopping online.
- Report any irregular transactions on your bank statements to your bank immediately
- When making a purchase using your credit card, never let your card out of your sight.
- Ensure that you opt for a credit card with chip technology, which is designed to make transacting more secure.
- When using your credit card to make withdrawals at an ATM, stay aware of your surroundings and don’t accept any help from strangers who may try to distract you.