Credit Card Fraud And What To Look Out For
Credit card fraud is no new thing and if you ask around you will possibly find at least one person you know who has been the victim of such a crime. And no, its not all internet – based either. Often it will happen when you least expect it to, in restaurants and in stores and shops.
I personally have used my credit card many, many more times on the internet than in shops in the high street or in restaurants. On the internet I have had no problems ever. I have been defrauded when using my card at a gas station, however. So this goes to show that its certainly not the case that all fraud is on the internet. I trust the internet more, actually. Its not difficult for someone who works in a restaurant as a casual waiter or waitress to attain your card details by what is known as “skimming”.
What is skimming? This is where when you hand over you card to a store keeper or whomever and they take it to make payment for your goods or the services you have been given. However, instead of only swiping your card for the one transaction you made, they will swipe the card into a card reader which can then be taken off premises and the data downloaded to a computer or other storage device.
The only way to be sure this has or is not happening to you is to regularly check your card statements. Often thieves will make very small transactions so you are not aware of them, so its wise to go through your statement carefully.
Banks and institutions do have in place much greater security measures and will also often compensate in full if you have been the unfortunate victim of fraud, but this is no reason for complacency. I did not receive any compensation due to some issues that are not worth discussing here, so its sensible not just to presume you will be fully compensated.
Here are a few pointers to help in reducing your credit card fraud potential:
- other than your credit card statements and receipts – anything not worth keeping that is related to your credit card account – you should either shred up or burn. Its best not to simply throw in the bin
- do not be taken in by phone calls asking you to verify credit card details over the phone as you may inadvertently be giving away all the information required to defraud you
- do not lend you credit cards to anyone unless you trust them implicity
- only carry the credit card or cards that you need and leave the rest in a safe place
- do not leave any credit card slips lying around or do not just simply throw them in the bin
- do check your statements on a regular basis to make sure there is no strange expenses on there
- if you are relocating, do let your card companies know about this well in advance
So that’s it in a nutshell – some simple but effective measures you can take to reduce all possibilities of fraudulent activity upon your account.
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