Credit Card Fraud How To Fight Back Against The Scammers

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Identity theft and credit card fraud score high on the list of things that consumers are worried about. But with a little bit of care and some inside information, there is plenty you can do to beat the scammers and keep your details protected.

Rule number 1 never give out your details
No bank, credit card company or finance company will ever send you an email or phone you up to ask you to 'confirm your details'. No matter how convincing the email or the phone call (and some scammers can produce the most authentic looking emails complete with logos), never respond and certainly never send them confidential information such as account numbers, sort codes or PIN numbers. If you do receive an email or phone call asking for your details, the best advice is to contact your bank or credit card provider immediately and inform them. They will then be able to pursue the matter on your behalf. Phishing, as this technique has become known, is one of the most common credit card and banking scams. Millions of emails are sent every day, and if only a fraction of a percentage of people mistakenly respond, the scammers can make thousands of pounds at your expense.

Always make sure that your PIN number and sensitive information is protected and kept secure. Never keep your PIN number in your wallet with your cards or tell anyone else what that number is, including credit card company employees. When you receive your statement each month, check it carefully to make sure that there are no suspect purchases listed. If there are, you can contact the card provider and inform them of the problem. Credit card companies take fraud very seriously, and are also passionate about keeping their customer's details private and secure, so they will do everything they can to help you. If you throw your statement away, make sure that it cannot be read by anyone else. 'Dumpster diving' going through rubbish bags to find sensitive information such as bank statements isn't an urban myth, it actually happens. A wise investment may be a small paper shredder that completely destroys the document before you throw it in the rubbish bin.

Out and about
We all use our credit cards to buy goods at the shops or withdraw cash from ATM machines. But some ATMs have been tampered with by fraudsters and can be fitted with a 'skimmer'. A skimmer reads the magnetic strip of your card and the fraudsters can then make a cloned card using your details. This card can then be used to make fraudulent purchases, and you get the bill. Skimmers can be cleverly disguised and it may be difficult to notice at first glance. If you think an ATM has been tampered with or something doesn't look right, don't use it. Look for ATMs that are branded with known bank names and building societies.

Try to avoid buying online with your credit card on public computers like Internet cafes or work computers. The trouble is, you don't know how good the security on these machines is, or who may be watching over your shoulder. It is much safer to use a home based computer for any banking transaction or credit card purchase, but make sure you keep your virus software up to date.

Finally, if your credit card is stolen, report it immediately. The longer you leave it, the more a thief can steal from you, running up a bill that could come as a big shock. If your credit card is stolen, the card provider will work with you to sort the problem out, putting a block on the stolen card to prevent it from being used and reimbursing you for any fraudulent activity.

Article Source: http://depositarticles.com/

This is one Mark Bartley's helpful personal finance guides aimed at providing information on credit cards and how to differentiate between options available.

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