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