A Quick Guide on Credit Card Fraud Detection
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. It is essential to know how to protect yourself because it will ruin your credit and any chances of getting a loan or line of credit. For that matter, it will be vital that you do your homework if you are seeing signs of credit card fraud. Discover more now on credit card fraud detection as discussed herein.
You find that there are several types of credit card fraud from simple to extremely sophisticated. 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. Besides, we also have account takeover where an existing credit card account can be hijacked to make purchases or get cash. Where you use someone’s information to open a new credit card account that is being referred to as application fraud.
Email scams is one thing that will give you a guide on credit card fraud. You find that sometimes credit card thieves target email accounts. In this case, they will send you a link that when you click, it will install a software on your computer that gains access to your login information and passwords as this will allow them 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.
The next thing to look at is skimmers. You find that in this case, the credit card thieves will put skimmers in 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. This is something that you can visually check before you use 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. Apart from that, you should also use ATM at your own bank so that they are likely to be monitored.
Lastly, we have phone phishing. This is a situation where scammer makes calls and try to trick people into giving them credit card information.