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How You Can Detect Credit Card Fraud

It is essential to note that credit card fraud is one of the most common ways thieves can steal your identity and many cases have been reported on this. 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. For that matter, it will be vital that you do your homework if you are seeing signs of credit card fraud. Discover more now on credit card fraud detection as discussed herein.

One thing that you need to know is that we have several types of credit card fraud from simple to extremely sophisticated cases. Honestly, you will never be able to totally protect yourself but you can lessen the chances of becoming a victim of credit card fraud. 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. Besides, we also have application fraud where you will use someone’s to open a new credit card account.

Email scams is one thing that will give you a guide on credit card fraud. You find that sometimes credit card thieves target emails. 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. For that matter, never email anyone any 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. This is a common thing as the thieves always put skimmers on the card readers at the gas pump. You find that a skimmer is a device that is installed on the 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. Besides, when you are suspicious it is always advisable that you use your debit card instead of a credit card so that the thieves do not clear your account. Besides, you should also use ATM at your own bank because they are more 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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