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A Quick Guide on Credit Card Fraud Detection

For a long time you have been hearing credit card fraud being one of the most common method thieves can steal your identity. This is something you need to protect yourself from because it will ruin your credit and any chances of getting a loan or 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. You should also know that credit card fraud involves the use of someone’s credit card information for an unauthorized purchase or a cash advance. There is also an account takeover where an existing credit card account can be hijacked to make a purchase or get cash. Apart from that, there is also application fraud where you use someone’s information to open a new credit card account.

Email scams is one thing that will give you a guide on credit card fraud. You find that sometimes credit card thieves target email accounts. 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. For that matter, never email anyone any 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. It is essential to note that a skimmer is a device that is installed on 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. 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. Apart from that, you should also use ATM at your own bank so that they are likely to be monitored.

Lastly, we have 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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