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. Discover more now on credit card fraud detection as discussed herein.
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. Apart from that, there is also application fraud where you use someone’s information to open a new credit card account.
The first thing that we are going to look at is email scams. You find that sometimes credit card thieves target emails. 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. 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. 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. It is also better to use ATM at your own bank because they are likely to be monitored.
Lastly, we have 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.
Attributed by: look here