9 Lessons Learned:

A Quick Guide on Credit Card Fraud Detection

All the time you hear about credit card fraud and this is the most common way thieves can steal your identity. It is essential to know how to protect yourself because it will ruin your credit and any chances of getting a loan or line of credit. Therefore, you need to do your homework of you are seeing signs of credit card fraud. Read more here on this guide on credit card fraud detection to harm yourself with knowledge.

You find that there are several types of credit card fraud from simple to extremely sophisticated. With this, you will never be able to protect yourself from credit card fraud but you can lessen your chances of becoming a victim. It is essential to note that credit card fraud is a situation where you use someone’s credit card information for unauthorized purchases or cash advance. There is also an account takeover where an existing credit card account can be hijacked to make a purchase or get cash. Besides, we also have application fraud where you will use someone’s to open a new credit card account.

One of the things that we are going to discuss is email scams. It is essential to note that sometimes credit card thieves target email accounts. One thing that they will do is to send you an email with a link that when you click it installs the software on your computer that gains access to your login information and passwords which they will use to access your financial accounts. Therefore, protect yourself by not emailing anyone your 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.

The next thing to look at is skimmers. This is something that you hear even in the news as thieves put skimmers on card readers at the gas pump. It is essential to note that a skimmer is a device that is installed on ATMs, check out terminals, gas pumps or handheld card readers for the purposes of stealing credit and debit card information. One way of detecting this us by visually looking for one before using your credit or debit card. In case you are suspecting something, you should use your debit card instead of a credit card so that the thieves do not clear your account. It is also better to use ATM at your own bank because they are likely to be monitored.

Besides, you should also look at phone phishing. This is a situation where scammer makes calls and try to trick people into giving them credit card information.
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