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