How Credit Card Fraud Works, And How To Stay Safe
Technology is growing rapidly and providing the platform for ease of the world and credit card is one of the inventions that made life pretty simple for the people. With the usage of credit card, you are able to carry unexpected money with you any time any place in the world.
The research shows that all the developed countries using the credit card for shopping purposes and this technology is getting popular among the undeveloped country but the fact is that this is pretty close to frauds and crimes.
The frauds are increasing rapidly in the world with the advancement of technology among people and cyber crime departments are working for providing a secure platform for the people – let’s have look towards fraud exist with the usage of credit card.
Frauds with the usage of credit card:
The two types of credit card frauds exist in the world and security departments are working to remove these situations and let’s have look towards them:
- When card not presents:
This is a common crime occurs in different regions of the world and most of the time hackers are involved in this act as this happens when the card holder’s information was stolen and the physical appearance of a card doesn’t need.
When the people passed their personal information online on different sites and don’t check whether they are authentic or not, some of them using phishing links or emails by fraudsters and steal the information and use your card illegally.
This is also the form of fraud where the physical appearance of card is important and this kind of fraud usually known as ‘Skimming’ and when the card holder physically swipe the card in the machine and this machine is operated in such a way that stole the personal information of the card and then commit the fraud with the person.
Other ways to commit fraud with the people using a credit card:
- You should need to protect your computer as one can install the malware to the computer and whenever you use a credit card for online shopping they often got the numbers from your computer.
- Phone hacking scandal as plenty of people made online shopping through mobile and mobile hacking is the way where criminals got the number.
- When you made the transaction through swiping the card, one can put the scanning device near to it and get access to all your personal information.
After reading the above states, one thought that it is impossible to protect him from getting fraud but few guidelines will help you:
- You shouldn’t need to share your card information anyone and especially with the email and mobile – the banks don’t email you for credit card information and if you receive one then you should need to careful as it is the case of phishing.
- You should either use the RFID-blocking wallet as it protects the other machines to read the credit card information and only read when you want to make a transaction by removing it.
These are the frauds that are pretty simple for the criminals and one should need to protect himself against these situations and remain careful while having the transaction with the credit card.