subject: Preventing Credit Card Fraud [print this page] Though identity theft and credit card fraud are two different things, they are very closely related. Identity thieves may change your account information, create new accounts, use your identity to commit crimes, and even use your identity to establish a new life.
Fraud is limited to charges on stolen credit or debit card numbers. A criminal gains access to your account number and then uses it to purchase products online or in person, and may even resells those goods to get the cash.
If you are not careful with your little plastic money, it can lead to identity theft. This means someone will not only steal your money, but damage your reputation in the eyes of banks, employers, and the law.
Luckily, credit card fraud is a crime that can often be prevented. You simply have to be careful, smart, and knowledgeable about your finances and how you use them.
Make sure your signature is on the back of your card; this could prevent the card from being used if it's been stolen. To be even more careful, put the letters CID (which stands for See ID) on the back of the card.
This ensures that when the clerk is handed the card they know to also ask for identification. If it is stolen, they will not sell the merchandise and the authorities will be contacted.
There are a few basics that everyone should be familiar with. These include not loaning to anyone, not leaving it lying around, and not giving the number to someone you don't know without first verifying they are legitimate company selling an actual service or good that you want to purchase.
There are also more preventative measures that are often overlooked by card-holders. The first is to keep your card in sight.
Whenever possible, keep your credit card where you can see it at all times. Some places, like restaurants, take your card away and then bring it back after they've secured authorization for a transaction.
Often times, when it is out of your sight it can be swiped through a card reader that stores the information from the magnetic strip. Criminals can use this to create a duplicate card later and steal funds from your account.
When people go shopping, they are often asked to swipe their card again because the machine didn't read it. Most people think nothing of it and swipe again, but you should be very cautious of double swipes.
Intelligent criminals will use this second swipe as an opportunity to copy the information from the magnetic stripe to a storage device. This can be used to make a duplicate card; so make sure you ask why before allowing a second swipe.
Most people go online to buy everything, from electronics, music, movies, clothing and anything else you can think of. To pay for these items you simply enter your account number, security code, and full name.
Make sure the website you purchase from is secured and legitimate. Many scammers create fake websites selling items that you will never actually receive, but they will use your account information to steal from you.
To make sure that the website is secured, look for a small lock in the lower right corner of the page, or the status bar for the page. If the lock isn't there, then the site is not secure and hackers can access the information you send over the web.
Most people carry all of their photo ID's, money, credit, debit, and Social Security cards all in the same place. This location is your wallet or purse.
Avoid carrying multiple cards, because if you lose your wallet or purse or they are stolen, you will lose everything that is in it. Leave any card you won't be using at home, and try to stick to putting all of your purchases on just one card.
That little plastic card can access your entire bank account, and if in the wrong hands, it can cause you severe damage financially. Be careful and smart with your money in all forms, paper or plastic, to protect yourself and your finances.
