Essential Things that You Should Know About Credit Card Fraud Detection
For a long time you have been hearing credit card fraud being one of the most common method thieves can steal your identity. This is something you need to protect yourself from because it will ruin your credit and any chances of getting a loan or credit. If you suspect that you are seeing signs of credit card fraud then you need to do your homework. 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. 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. 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.
The first thing that we are going to look at is email scams. You find that sometimes credit card thieves target emails. 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. For that matter, never email anyone any 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. You find that a skimmer is a device that is installed on the 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. Besides, when you are suspicious it is always advisable that you 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.
Lastly, we have 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.