| Credit card Internet fraud is one of the most common | | | | as email accounts can be hacked easily by cyber |
| crimes in cyber space today. It can be as simple as | | | | thieves. There should also be efforts to invest in |
| being charged for a dollar online purchase and then the | | | | software or Internet tools to protect online |
| merchant using the card to charge other purchases. | | | | transactions. The website should be using the Secure |
| This is much easier for a thief than the old fashioned | | | | Socket Layer (SSL) Web protocol. This can be |
| way of actually stealing the credit card and account | | | | requested from the hosting company of the third-party |
| details. It affects not only the card holders, but the | | | | website administrator. |
| merchants as well. Each year, hundreds of millions of | | | | Online merchants should also be aware of the |
| dollars are lost to fraud. As well as business, for | | | | "carding" technique where credit card thieves try to |
| example: some people may shy away to charging | | | | make small donations to non-profit sites using a stolen |
| online and as a consequence business is lost to honest | | | | card to test their validity. Seeing small purchases made |
| merchants. | | | | successively by just one credit card account will show |
| While most countries have done their part in preventing | | | | online merchants that cyber thieves are using the |
| card fraud, there are still isolated incidents of this cyber | | | | credit card possibly in a suspicious manner. |
| crime. There are several ways to avoid this depletion | | | | Suspicious Small Charges |
| of your financial resources. Perhaps the most | | | | You should always examine your credit card billing |
| important way is by keeping informed. | | | | statements every month to look for very small |
| Accurate Financial Records | | | | charges as little as 25 or 30 cents. This is a scam in |
| Personal vigilance is one of the keys to prevent this | | | | which a thief will charge several hundred or more |
| fraud. Maintaining up-to-date personal financial records | | | | cards a very small amount, in this way the crook can |
| keeps a credit card user aware of purchases made | | | | accumulate a good bit of money without attracting the |
| under his or her name. Card issuers often send out the | | | | attention of the card holders. Report any small charges |
| billing statement a month before the payment due | | | | you can not account for to your card services and |
| date. This allows the card holder ample time to verify | | | | don't pay them. |
| and dispute questionable purchases. Billing statements | | | | FTC can Help |
| should be kept and filed for at least a year for | | | | In instances of credit card fraud, the public may seek |
| reference. They should be shredded before discarding. | | | | assistance from the Federal Trade Commission at |
| In making online purchases, the card holder should be | | | | ftc.gov. The Federal Trade Commission helps by |
| on the lookout for the secure sign (https:) in the front | | | | sending these instances, whether online or offline, to |
| of the domain name listing of the merchant's website. | | | | Consumer Sentinel. Consumer Sentinel, on the other |
| When a site looks suspicious, the purchase should not | | | | hand, makes its online database available to law |
| be made. | | | | enforcement agencies in the United States and |
| Online Credit Card Security for Merchants | | | | overseas. |
| Online merchants should also be aware of ways to | | | | Avoiding credit card fraud does not only allow card |
| avoid credit card fraud. Extra steps in the online | | | | holders to dodge financial hassles, but also to maintain |
| purchasing process can be added to provide more | | | | an excellent credit rating. Security from this fraud |
| security. Follow-up email is one simple add-on. Before | | | | starts with being informed. That is why it is important |
| pushing through the purchase, a verification email | | | | that you understand your credit card bill. Armed with |
| should be first sent to the card holder and will only | | | | the proper information, card holders and online |
| proceed once the purchase is verified. A telephone call | | | | merchants can effectively make preventive and |
| may also be made as part of the verification process | | | | reactive measures to stop online fraud. |