The dangers of credit card fraud
The BBC claims that if you are the owner of a credit or a debit card, there is a non-negligible chance that you may be subject to fraud. Credit card fraud is when personal information is stolen from your debit, credit or store card, or the card itself is stolen, in order for money to be taken from your account or used to buy items in your name. Fraudsters use different techniques to find out the details on your card. They may make up an excuse to see your card when you’re using it to buy something or withdraw cash. If someone knows the details of your card, such as the 16-digit number, expiry date and security code on the back, they can use the information to buy in your name. This is done by making card not present purchases, such as online shopping. Alternatively, they may use the information to create a counterfeit card, or clone the card by skimming the data held on the chip or magnetic strip. Your card can also be vulnerable if you’re using it at a cash machine and somebody sees the PIN you use to access your account.
Signs that you should look out for to identify credit card fraud are:
(from Action fraud UK)
- Your card is rejected when you try to pay with it or withdraw money, but you’re sure there were funds in your account last time you checked.
- You’ve spotted unusual activity on your bank statements, such as purchases you don’t remember making or cash withdrawals from places you don’t remember visiting.
- Your bank or the police will never get in touch to ask you for your PIN as a ‘security check’. If you get a call, text message or voicemail like this, don’t give away anything.
How to protect yourself from credit card fraud:
- Look after your cards – keep them with you everywhere you go. Never hand over a card, particularly if you’re paying using a contactless card machine.
- Be protective of banking information. Either keep your statements, receipts and documents stored safely, or destroy them using a shredder.
- Sign new cards as soon as they arrive, and cut old cards through the magnetic strip and the chip once they’ve expired or been cancelled.
Protect your personal information such as bank information and other personal details on both confidential papers and old comuters, laptops or hard drives with the help of Manchester Shredding. Our Data Shredding Services offer both confidential paper shredding and hard drive distruction on site to ensure there is total security compliance as well as to give you complete peace of mind.
Source: BBC July 12th 2017
http://www.bbc.com
https://www.actionfraud.police.uk
