The 5 Commandments of And How Learn More

18 Jul    Financial
Jul 18

The 5 Commandments of And How Learn More

How You Can Detect Credit Card Fraud

It is essential to note that credit card fraud is one of the most common ways thieves can steal your identity and many cases have been reported on this. This is something you need to protect yourself from because it will ruin your credit and any chances of getting a loan or credit. If you suspect that you are seeing signs of credit card fraud then you need to do your homework. Read more here on this guide on credit card fraud detection to harm yourself with knowledge.

It is essential to note that we have many types of credit card fraud types from simple to extremely sophisticated cases. Honestly, you will never be able to totally protect yourself but you can lessen the chances of becoming a victim of credit card fraud. One thing that you should know is that credit card fraud is a case where you use someone’s credit card for unauthorized purchases or cash advance. There is also an account takeover where an existing credit card account can be hijacked to make a purchase or get cash. Where you use someone’s information to open a new credit card account that is being referred to as application fraud.

The first thing that we are going to look at is email scams. It is essential to note that sometimes credit card thieves target email accounts. One thing that they will do is to send you an email with a link that when you click it installs the software on your computer that gains access to your login information and passwords which they will use to access your financial accounts. You can protect yourself by not emailing anyone your personal information, do not click on any unverified link, install antivirus programs and keep them updated and never click a pop-up that claims your computer has been infected with a virus.

Not only that but we also have skimmers. This is a common thing as the thieves always put skimmers on the card readers at the gas pump. It is essential to note that a skimmer is a device that is installed on ATMs, check out terminals, gas pumps or handheld card readers for the purposes of stealing credit and debit card information. One way of detecting this us by visually looking for one before using your credit or debit card. In case you are suspecting something, you should use your debit card instead of a credit card so that the thieves do not clear your account. Besides, you should also use ATM at your own bank because they are more likely to be monitored.

Besides, you should also look at phone phishing. In this case, the scammers make phone calls and try to trick people into giving them credit card information of which should not give your information.
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