June 17, 2007

How you can avoid credit card fraud

As identity theft continues to become more prevalent, responsibility falls upon each and every consumer to do what they are able to do to avoid becoming the next victim of this crime. The following guide aims to remind us all of some common sense and not so obvious behaviours that we can each adopt to safeguard ourselves.0 Dispose of financial information carefully. One of the most common methods of procuring information for fraudulent purposes is to collect discarded credit card receipts. This is usually combined with 0skimming’ - the process of taking a card’s details, usually with a device that looks like a chip and pin machine. A fraudster using these methods would have enough details to duplicate your card and use it immediately.0 Check your statements regularly. Usually the duplicate card is used within hours to make expensive purchases very quickly. This is tell-tell sign that fraud has taken place, but unfortunately alarm bells may not ring until a certain amount has been spent or you notice irregularities on your statement.In addition to shredding any paperwork that contains financial information, the same treatment should be applied to incomplete credit card application and offers as these can be pick from […]

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