Credit Card Fraud Prevention

With the growing number of people shopping online and by phone, credit card fraud is on the rise in the U.S. and abroad. In fact, the number of online credit card fraud is soaring as more and more people opt out of shopping malls and embrace online shopping.

Many savvy Internet shoppers know that it’s more risky to give your credit card to a waiter in a restaurant than it is to purchase an item online through a secured connection. That is because nothing can prevent your waiter from writing down your credit card number and using it later. That's why finding more about credit card frauds, how it happens, and ways you can prevent it, is essential to safeguarding your money and identity.

What Is A Credit Card Fraud?

A credit card fraud is a transaction that is completed with your credit card by someone else. Often a fraudulent transaction is made hours after the credit card or card number is stolen or lost; often before the cardholder gets the chance to report the card as missing or stolen.

How Do Credit Frauds Happen?

Credit card fraud can occur in a number of ways. So it’s important to treat your credit cards like cash and to become aware of the common ways a fraud may occur. The common types of fraud and the ways they can happen include:

Lost/Stolen Credit Card: someone uses your lost or stolen credit card
Identity Theft: someone applies for a credit card using your personal information
Counterfeit Credit Card: Scammers duplicate legitimate credit cards for the use of fraudulent activities
Non Receipt Fraud: Your new or replaced credit card gets stolen before you receive it in the mail
No Card Fraud:Your credit number is being used to make transactions over the phone or Internet without your knowledge

Tips for Credit Card Fraud Prevention

To prevent credit card fraud, as a cardholder, you should protect your card and card number to the best of your ability. Some tips for fraud prevention include:

Sign the back of your credit cards
Keep an eye on your credit card every time you use it
Jot down your credit card number and keep it in a safe place
Hold on to receipts of your credit card purchases
Check your statements regularly and notify your credit card company if you see bogus charges on your bill
Call your card company immediately after your card is stolen or lost
Refuse to give out your credit card information over the phone unless you’re dealing with a trustworthy merchant
Check that you’re on a secure website before making an online transaction
Ignore emails that ask you to provide your credit card number via email
Avoid ‘phishing’ scams by disregarding emails that require you verify your credit card information on a site
Avoid lending your credit card

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With the advent of wireless Internet, more and more computer users are entering the world of cyber space.

Yet, while these users are well aware of the importance of the protection of their computer when hooked up to regular internet providers, they are often oblivious to the fact that the same cyber dangers, and in fact even more, exist in the world of WiFi.

What you may not know is that same Internet connection that makes it possible to check your email from the comfort of your bed also makes it easier for hackers to access your personal information.

It is for this reason, the sharing of the wireless Internet connection, that protecting your computer when wireless is even more important than ever before.