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Essential Things that You Should Know About Credit Card Fraud Detection

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. If you suspect that you are seeing signs of credit card fraud then you need to do your homework. Read more here on this guide on credit card fraud detection to harm yourself with knowledge.

It is essential to note that we have many types of credit card fraud types 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. Besides, we also have account takeover where an existing credit card account can be hijacked to make purchases or get cash. Besides, we also have application fraud where you will use someone’s to open a new credit card account.

The first thing that we are going to look at is email scams. It is essential to note that sometimes credit card thieves target email accounts. Where they will send you a link that when clicked installs software on your computer that gains access to your login information and passwords and this is what they will use to access your financial accounts. You can 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. This is something that you hear even in the news as thieves put skimmers on 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. You can detect this by visually looking for it 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. Besides, you should also use ATM at your own bank because they are more likely to be monitored.

Lastly, we have phone phishing. Phone phishing involves a scammer calling and try to trick people into giving them credit card information of which you need to verify the caller before you become a victim.
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