Protect Yourself From Credit Card Fraud
Protect Yourself From Credit Card Fraud
Protect Yourself From Credit Card Fraud
Criminals tirelessly and creatively come up with new ways to scam hard-working Americans, most commonly through credit cards. They steal the data on the magnetic strip with skimming equipment, produce counterfeit cards and make purchases pretending to be the victim in stores and on the internet.
One of the most common ways these criminals are able to obtain a person's information is through ATMs. Using special readers attached to the swiping part of the ATM, they are able to steal all of the card information while a user is using the ATM. They also get the PIN by attaching a hidden camera which records the user's hand.
Although banks and card systems are working together to introduce new and more secure card technologies - such as smart cards - which require PIN activation on the actual card, you must still be more aware of the different types of techniques criminals have set up for unknowing citizens. Knowledge is the best protection.
While payment systems are developing new and effective methods to counteract fraud, you can already do a lot for this. Please use the following advice and recommendations on necessary security measures immediately after receiving a new credit card:
* Sign the card on the signature line, located on the back of the card
* Rewrite your card number and telephone customer service center - this information may be useful to you in case of loss or theft of the card. Keep this information in a safe place
* When creating your PIN, avoid obvious, easily anticipated digital combinations - for example, such as the end of your phone number, date of your birthday, etc.
* Never write your PIN - memorize it.
* Never disclose your PIN to anybody. Remember that you do not have to tell any representatives of the bank, law enforcement agents or cashiers. Only the cardholder should know the PIN.
* Report lost or stolen cards immediately to your bank. In some cases, you may be required to give a statement to the police or a written confirmation of loss of your card.
When using your card
* Protect your card just like you would cash. Do not forget it in the car, bar or nightclub.
* If possible, try not to let your card out of sight during a transaction.
* Make sure your card is returned to you after a transaction - that includes from an ATM.
* Before signing a receipt for a purchase with your card, always pay attention to the amount charged for the purchase. Always keep copies of receipts and slips, confirming the transaction for purchases and cash withdrawals at ATMs.
* Always check your account statement, especially after returning from a trip.
* Only give your credit card number over the phone to companies you are sure to be known, trustworthy companies - including your credit card company, banks, major cell phone companies, etc.
* If you're on the phone and feel the pressure of a sales call, be alert. Do not disclose you credit card number until you've decided you will be making a purchase and you know the company is trustworthy.
* You should always know who has access to your cards. If your card is also used by somebody in your family (spouse, children or parents), with or without your knowledge, you still bear responsibility for its purchase or cash withdrawal transactions.
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