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. Here are some of the tips that will help you learn more info about credit card fraud detection.
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. You should also know that credit card fraud involves the use of someone’s credit card information for an unauthorized purchase or a 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.
One of the things that we are going to discuss is email scams. You find that sometimes credit card thieves target emails. 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. Therefore, 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 something that you hear even in the news as thieves put skimmers on card readers at the gas pump. This is a device that is installed on ATMs, check out terminals, gas pumps or handheld card readers so that it can still credit and debit card information. This is something that you can visually check before you use your credit or debit card. Apart from that, when you are suspicious, it is better than you use your debit card instead of the credit card so that the thieves do not clear your bank account. It is also better to use ATM at your own bank because they are likely to be monitored.
Apart from that, there is also phone phishing. Phone phishing involves a scammer calling and try to trick people into giving them credit card information of which you need to verify the caller before you become a victim.