| 4 Credit Card Scams That Could Drain Your | | | | too long. |
| Bank Account | | | | |
| | | | You must not give out your credit card number |
| 15th March 2007 | | | | on the phone to someone you do not know. The |
| | | | trickster may call you up pretending to be |
| Author: Anthony Samuel | | | | from the card company or some other company |
| | | | you do business with. Still do not give your |
| There are many ways that fraudsters commit | | | | card details to him. Insist on calling back |
| credit card fraud and in this article, we | | | | on the number you have of the company. |
| cover the Top 4 credit card scams that you | | | | |
| need to be aware of: | | | | Do not respond to any email that asks you to |
| | | | disclose your credit card details. Be extra |
| 1. Application Fraud | | | | cautious of emails that ask you to click on a |
| | | | link and verify your financial information. |
| This can be an assumed identity fraud where | | | | They are mostly 'phishing' scams. If you want |
| an individual pretends to be someone that he | | | | to check the site, do not click on the link. |
| is not. Or it can be a financial scam where | | | | Instead type out the url on the address bar |
| an individual provides false financial | | | | and check the authenticity of the site. Be |
| details in order to acquire credit. | | | | careful not to provide credit card |
| | | | information on any unsecured website. |
| 2. Lost or Stolen Credit Cards | | | | |
| | | | Some More Do's and Don'ts |
| With the advent of modern technology, even | | | | |
| the credit card scams have gone high tech. | | | | Don't write down the PIN number on your |
| Nowadays, tricksters produce fake credit | | | | credit card or even keep it in your wallet. |
| cards and trick merchants. They also copy | | | | Your wallet is equally prone to being stolen. |
| information from the magnetic band on the | | | | |
| reverse of the credit card, or the | | | | Do make sure that you keep your credit card |
| information stored on the smart chip. | | | | receipts properly and do not keep them lying |
| | | | all around you. |
| 3. Postal Intercept Deception | | | | |
| | | | Do be careful that others around you cannot |
| This happens when a card is stolen from the | | | | copy your credit card number. |
| postal service prior to it reaching its | | | | |
| owner. Postal intercept fraud has become a | | | | Don't carry all your credit cards all at the |
| less famous aspect of credit card fraud, | | | | same time. If your wallet gets stolen, then |
| especially in the EU. | | | | all the cards will be lost at one go. |
| | | | Ideally, it would be better if you carry your |
| This is primarily due to successful | | | | credit cards in any place other than your |
| monitoring of those who work for the postal | | | | wallet. |
| service. Also, the card issuers have also | | | | |
| started to take various safeguards such as | | | | Don't lend your credit card to any one. |
| requiring personal identity confirmation at | | | | |
| the point of credit card activation. | | | | Do scrutinize each item on your credit card |
| | | | bill to ensure that you have not been |
| 4. Site Cloning and False Merchant Sites | | | | overcharged. |
| | | | |
| On the Internet these are fast becoming a | | | | Don't sign a blank credit card receipt. If at |
| common technique of credit card scams for | | | | any time, you feel victimized, you must |
| many fraudsters with a proficient aptitude | | | | promptly let your issuer know. |
| for hacking. They make people provide their | | | | |
| credit card details without realizing they | | | | As long as there are credit cards there will |
| have been tricked. | | | | be credit card scams but common sense and |
| | | | vigilance coupled with ever developing scam |
| Precautions To Be Taken To Avoid Credit Card | | | | detection technology should make credit card |
| Scams | | | | fraud rather negligible. |
| | | | |
| The best way to avoid credit card scams is to | | | | This article was brought to you courtesy A |
| be on the lookout for any fraudulent | | | | credit card directory where you can search, |
| activity. Be alert whenever you are using | | | | compare and apply for credit card offers from |
| your credit card. Whenever you give your card | | | | leading credit card companies as well as find |
| to the merchant, keep an eye on it. See what | | | | tools and credit card articles to help you |
| he is doing and take it back as soon as | | | | choose the right credit card. |
| possible. Do not let it go out of sight for | | | | |