Credit card scam or credit card fraud is a term used to describe any form of theft or fraud which uses a credit card or anything similar as a payment mechanism in order to gather fraudulent source of funds in a transaction. This may be committed two ways: physical credit card fraud or online credit card fraud. These two have the same purpose in which the perpetrator’s main purpose is to obtain goods without paying or to obtain unauthorized funds from an account of other people. This is also identical or related to the many types of identity theft.
Protect Yourself Against Fraud
Here are some of tips to help you prevent fraud or identity theft. These will teach you how to identify a credit card fraud and how to avoid falling victim to this modus operandi.
- Follow your bills closely. Even though credit cards generally serve as an alternative payment, especially when making online purchases, it still needs to be controlled and spending should be minimal. Try to limit your purchases to a single card and check the account’s bills closely. Immediately report any questionable purchase(s) to the card holder.
- Only shop on secure sites. Be wary of the sites that you make purchases on as this may be targets of credit card fraud or used to commit scams. Use extreme caution when doing your shopping. Stick to those online retailers that you trust or have researched enough to prove their reliability. Ensure that when it’s time to submit your credit card details, the site address is secured with a URL that begins with https. If in doubt, stop the transaction and contact the retailer online.
- Use one-time credit card numbers for online purchases. Consider using temporary card numbers from trusted credit card companies.
- Ensure that your online transaction is encrypted. Look for those websites with addresses that starts with “https” or contain a padlock image on its page. These are indicators that the information being inputted in these pages are secure and that the transmission or transfer of your account information is also secured.
- Secure your credit card information. It is important to keep your account information secure in order to prevent yourself from becoming a victim fraud, directly or indirectly. Do not store your credit card information on the computer since this is liable to be a means for hackers to get this information. Do not write your PIN number down; memorize it if possible or store it somewhere where nobody can see it.
- Never delay to report a lost credit card. The repercussions of doing so could be highly disastrous as it could prevent the capture of the perpetrators. Also, not reporting the incident immediately could give the criminals leeway in gathering your information and ultimately allow them to use your cards for credit scams.
- Take a minute before venturing into any kind of online transaction and decide on its authenticity. Think twice and gather as much information as you can about the transaction to be sure that what you’re entering into is authentic. You may also check the authenticity of the firm, website or any other transactional company where your money would flow into.