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Credit card fraud protection: steps you can take to prevent fraud

Credit card fraud refers to theft committed by fraudsters using payment cards such as credit and debit. With technology becoming increasingly sophisticated, it is becoming harder for fraudsters to carry out credit card fraud. Card providers and banks are working with investigators worldwide to ensure that the fraud is minimised. However, there is only so much card providers, and banks can do to prevent fraud by investing in more secure payment gateway solutions.

You can take some steps to make sure your card details are secured and not misused.

Keep your cards hidden

It is very easy for fraudsters to steal cards, especially when they are in an easy spot. Therefore, it is ideal to keep your cards hidden to prevent them from getting stolen. If you are going out, try carrying only one or two cards that you will be using and leave the rest of the cards at home. Make sure to have a wallet to put your cards in instead of putting them in pockets as stealing wallets is a bit difficult.

Avoid providing card information

It often happens that businesses ask for card information through emails. However, it is quite risky to do so. Fraudsters can create fake business accounts to carry out their scams, and it can be that business email you received is another scam. Therefore, providing credit card information through emails is not advisable. Instead, it is better to go to the businesses’ website and provide information.

Report missing cards

Missing cards can fall in the hands of fraudsters who can use your card details to buy goods and services or to carry out illegal transactions. Hence, it is advisable to report your missing cards so that the card issuer can cancel your cards to prevent fraudulent activities.

Secure your cards online

While shopping from online websites such as amazon, passwords are saved so that purchases can be proceeded in one click. Even though it is extra work it is safer to not save passwords so that every time you have to log in again. However, if you still want to avail the option of keeping passwords saved, then it is better to opt for passwords that are long, hard and consist of uppercase, lowercase, and numbers. Moreover, do not write or share passwords.

Go through your billing statements every month

It is advisable to go through your billing statements every month to check for unauthorized charges. If you notice any charge that you do not recall making, contact the card issue immediately to report the charge. Your card issuer would then advise you as to what to do.

Conclusion

Credit card protection is vital and there are several steps, as mentioned above, that you can take to minimize credit card fraud. It is important to be mindful of the little steps as they can keep your credit card secured and away from fraudsters.

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