Avoid credit crad fraud


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Credit Card Fraud is on the Rise

Credit card fraud has increasedfrom information you submit on the
significantly in recent years, accordingInternet.
to law enforcement officials and- Fraudsters may locate your discarded
consumer protection organizations likereceipts by looking through your trash
the Public Interest Research Group andcan. If your name or account number
Privacy Rights Clearinghouse. Moreappears on the receipt, they can use it
consumers own credit cards now than into their advantage.
the past, and criminals are constantly- A clerk at a store might make an extra
looking for new ways to tap intocopy of your credit card, or take the
accounts. All of this means cardholdersnumbers from it.
need to protect their credit cards now- Your utility bills, credit card and
more than ever before.bank statements, tax information, and
Perhaps the most obvious form of creditnew checks can be stage-managed to land
card fraud takes place in the form ofup at the wrong place.
theft. Even if you don't lose your card- You may get a phone call or email
or have it stolen, however, your creditoffering a free trip or a cheap travel
card account could still be in danger.package. To receive it, however, you
It is not uncommon for criminals tohave to submit your account number. Once
steal your credit card identity -you do, the source can start using your
details such as the number on the cardcard number to make unauthorized
and the expiration date. A stolenpurchases.
account number is the first step in aAfter collecting your personal
series of credit card fraud incidents.information, fraudsters may get the
Unfortunately, cardholders may not bemailing address on your credit card
aware of the theft until theaccount changed by calling your
unauthorized activity starts showing upcreditors and opening new lines of
on the bills.credit. In some cases, they might do
Identity Theftmore than just rack up purchases on your
Identity theft occurs when your personalcard. They might open bank accounts in
information is gathered without youryour name, apply for loans in your name,
authorization and used for criminalor set up new phone accounts. The list
purposes. It occurs when someone stealsof possibilities is nearly endless.
information that identifies who you are,New Credit Card Crimes
such as your name, address, date ofOne of the newest methods that identity
birth, or social security number.thieves are using is referred to as
Sometimes you need to submit thisskimming. In this technique, a small
information when applying for credit,hand-held electronic device called a
opening a new bank account or making askimmer is used to gather the
purchase. When someone taps into theseinformation embedded in the magnetic
accounts or transactions withoutstrip of the card. With a simple swipe
authorized permission, your informationof your card in the hand-held skimmer,
could be in danger. According to aall your personal identification
Federal Trade Commission survey issuedinformation is collected in just a
in October 2007, an estimated 13.5second. It is then used to create a
percent of U.S. adults (30.2 millioncounterfeit card or make purchases
consumers) were victims of one or moreonline.
identity fraud incidents in 2005.Crime perpetrators are continually
Credit card thieves can come in twotrying out different technologies to
forms. The first of these are completecarry out identity theft. Fortunately,
strangers, and the other kind falls intomany organizations are fighting the
the category of people you know. Thisbattle against credit card crime by
second group can include anyone fromdeveloping new encryption techniques.
friends and family members to neighbors,Business are doing all they can to help
co-workers, or anyone that you have anindividual consumer keep their private
established relationship with. More thaninformation a closely guarded secret.
half of the identity theft cases thatDespite various improvements and
occur are committed by criminals thatefforts, almost anyone can be a victim
have established relationships withof identity theft. And it can be
their victims.nerve-wracking to find unauthorized
This doesn't mean that you should becharges on your personal credit card
wary of all of your friends and in-laws.bills. Most credit card companies will
You should, however, be aware of certaincover the amounts charged to your card
warning signs. Here are a few of thein fraudulent cases. Still, it is in
common ways that identity theft happens:your best interest to do all you can to
- Someone may steal your wallet orprotect your credit card, as well as
purse. When they get a hold of it, theyyour personal identification
have instant access to your credit cardsinformation. Prevention is always better
and bank information.than the cure!
- Your personal information can be taken



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