The term credit card fraud refers to all kinds of fraud and theft being done using
a credit card or any other payment mechanism as a deceitful source of funds in a transaction. It can be committed for the basic two reasons:
a. In order to buy stuff for free without paying money for it
b. To get unauthorized funds from an account.
The credit card information in this regard needs to be safe in order to avoid the loss of money later on. Followings steps should be taken to prevent credit card theft:
a. Keep your credit card with you: The best way to keep your credit card safe is to keep it close to you either in some purse or wallet which is not easily reachable for the snatchers. Women needs to be extra careful in this regard and dont forget to zip their bags while going out and carrying their credit cards along. Another important point here is that while you need to keep your credit card safe by keeping it with you, also make sure not to carry all your credit cards at a time as a single snatching this way will result in the loss of all your credit cards.
b. Always double check the credit card receipt: Never forget to verify the receipt of your credit card before signing it in order to avoid any kind of fraud. In case you receive a credit card slip with empty spaces in it, never sign without drawing through them or writing $0 in those empty spaces so that the cashier wont get a chance to add in any extra amount later on.
c. Never leak your credit card information: Only tell your credit card number on calls you make to customer service and never mention it otherwise if any one calls and asks you randomly. It is a common way of credit card thieves to act as the credit card issuers and tries to trick you by digging out your credit card number via calling you.
Keep your money safe by taking care of your credit cards either they are business credit cards or of other use.