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How You Can Detect Credit Card Fraud

All the time you hear about credit card fraud and this is the most common way thieves can steal your identity. You find that credit card fraud can ruin your credit and any chances of getting a loan or line of credit. For that matter, it will be vital that you do your homework if you are seeing signs of credit card fraud. Here are some of the tips that will help you learn more info about credit card fraud detection.

One thing that you need to know is that we have several types of credit card fraud from simple to extremely sophisticated cases. Truth be told, you will never protect yourself from credit card fraud but you can lessen your chances of becoming a victim of credit card fraud. One thing that you should know is that credit card fraud is a case where you use someone’s credit card for unauthorized purchases or cash advance. Apart from that, we also have cases of account takeover where an existing credit account can be hijacked to make purchases. Apart from that, there is also application fraud where you use someone’s information to open a new credit card account.

One of the things that we are going to discuss is email scams. You find that sometimes credit card thieves target emails. One thing that they will do is to send you an email with a link that when you click it installs the software on your computer that gains access to your login information and passwords which 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 a common thing as the thieves always put skimmers on the card readers at the gas pump. This is a device that is installed on ATMs, check out terminals, gas pumps or handheld card readers so that it can still credit and debit card information. One way of detecting this us by visually looking for one before using your credit or debit card. Besides, when you are suspicious it is always advisable that you use your debit card instead of a credit card so that the thieves do not clear your account. It is also better to use ATM at your own bank because they are likely to be monitored.

Apart from that, there is also phone phishing. In this case, the scammers make phone calls and try to trick people into giving them credit card information of which should not give your information.
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