What You Should Know About This Year

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. This is something you need to protect yourself from because it will ruin your credit and any chances of getting a loan or credit. Therefore, you need to do your homework of you are seeing signs of credit card fraud. Read more here on this guide on credit card fraud detection to harm yourself with knowledge.

One thing that you need to know is that we have several types of credit card fraud from simple to extremely sophisticated cases. With this, you will never be able to protect yourself from credit card fraud but you can lessen your chances of becoming a victim. It is essential to note that credit card fraud is a situation where you use someone’s credit card information for unauthorized purchases or cash advance. Apart from that, we also have cases of account takeover where an existing credit account can be hijacked to make purchases. Where you use someone’s information to open a new credit card account that is being referred to as application fraud.

One of the things that we are going to discuss is email scams. You find that sometimes credit card thieves target email accounts. Where they will send you a link that when clicked installs software on your computer that gains access to your login information and passwords and this is what 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.

Apart from that, you should also be careful with 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. You can detect this by visually looking for it 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. Apart from that, you should also use ATM at your own bank so that they are likely to be monitored.

Besides, you should also look at phone phishing. This is a situation where scammer makes calls and try to trick people into giving them credit card information.
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