Financial

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How You Can Detect Credit Card Fraud

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. If you suspect that you are seeing signs of credit card fraud then you need to do your homework. Here are some of the tips that will help you learn more info about credit card fraud detection.

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. Apart from that, we also have cases of account takeover where an existing credit account can be hijacked to make purchases. Apart from that, there is also application fraud where you use someone’s information to open a new credit card account.

The first thing that we are going to look at is email scams. You find that sometimes credit card thieves target email accounts. In this case, they will send you a link that when you click, it will install a software on your computer that gains access to your login information and passwords as this will allow them 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.

Not only that but we also have skimmers. You find that in this case, the credit card thieves will put skimmers in the card readers at the gas pump. This is a device that is installed on ATMs, check out terminals, gas pumps or handheld card readers so that it can still credit and debit card information. One way of detecting this us by visually looking for one before using your credit or debit card. Apart from that, when you are suspicious, it is better than you use your debit card instead of the credit card so that the thieves do not clear your bank account. Apart from that, you should also use ATM at your own bank so that they are likely to be monitored.

Lastly, we have phone phishing. In this case, the scammers make phone calls and try to trick people into giving them credit card information of which should not give your information.
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