10 Ways to Prevent Credit Card Fraud

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In the thief’s perspective, what is better than cold cash? A credit card is a good answer. Thieves can make purchases online through someone else’s credit card and they won’t have to pay for any of it. Unfortunately, the one who has to pay for the huge transaction bill is the owner of the card.With that said, it is crucial to protect your credit card from thieves who won’t think twice about running through your account limit.

credit card fraud

You need to understand that with just a little bit of information, a thief can easily make a copy of your credit card and be on his way to making purchases. So how can you safeguard your card and prevent credit card fraud? Understanding How Thieves Can Access Your Accounts Credit card fraud is a crime that involves stealing a person’s identity.

Although physical theft is one of the most common forms of fraud, it can still happen in different ways. Thieves can look into your discarded receipts and then use the account number listed on the receipt for illegal purchases. A dishonest employee from a bank, shop, or restaurant can make a copy of your credit card or can charge your card for purchases you didn’t make. Thieves also use phishing wherein they can get their victim’s account information.

You purchased an item online from an unsecured website. You entertained someone who posed as a bank employee asking for your personal information, such as your full name, birth date, address, and social security number.

People should also learn about the different forms of credit card fraud to avoid being a victim and to avoid committing the crime itself. When cards get stolen or are used fraudulently when credit cards are cloned or counterfeited Sending fake emails to gather information Fake online banking websites or unsecured websites trying to imitate a bank’s official site. Lastly, everyone- especially those credit card fraudsters, must understand that the United States Code, Section 1029, states that a person convicted of this crime will serve up to 10 years imprisonment.

Further convictions may result to a conviction of 20 years in jail. In addition, the court will also seize all the personal property of the thief that was used to support the fraud, such as the house, money, and equipments.Simple Ways to Prevent Credit Card Fraud Once you receive your credit card, immediately sign the back portion. Make sure to keep your card and account number private. If possible, place your card in a different location and not in your wallet. You can also putting it in a zipped compartment or in a small card holder.

Treat your receipts as cash. Do not throw it away in the trash can. If you really need to throw away old receipts, you should use a shredder before throwing it away. In doing so, you will prevent potential fraudsters from getting hold of your account information. When making a purchase, you must keep an eye on your card and get it back as quick as possible.

In addition, you must check and total all your charges before signing the receipt. Keep a record of your account numbers and place it in a secured area. Immediately report any questionable and unfamiliar charges. It is also advisable to put it in writing and send it to your card provider. Avoid making any purchases online from unfamiliar and unsecured websites. Only open and read emails from people you know. In case your card gets stolen, you must immediately notify your card provider and ask them to block any transactions made from the stolen credit card.Always keep in mind that scam artists can easily gather and use your personal information to commit fraud. To that end, never provide your personal information, including your account and card number to someone you don’t know.

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