| Globally credit card fraud costs card issuers billions of | | | | also help in any credit card fraud prevention. In this |
| dollars a year in fraudulent use of their cards. Some of | | | | regard, the following are currently popular with card |
| this loss is passed back to retailers who failed to | | | | issuers: * identification photos: where your picture is |
| comply with the normal processing method for the | | | | shown on the front of the card |
| card. Another part of the loss is insured. Nonetheless, | | | | * fingerprinting: where a facsimile of your fingerprint is |
| as a cardholder you are potentially liable for any | | | | shown on the reverse of your card; |
| fraudulent use of your credit card. It is, therefore, | | | | * chip and Pin systems: where the card has an |
| imperative that you make yourself aware of what the | | | | encrypted chip containing details about the card and a |
| current fraud scams are and how you can help to in | | | | PIN that ensures the card is a genuine issue. Essentially |
| the battle of credit card fraud prevention. | | | | the chip contains the same information that used to be |
| To this end, the following are some fraud prevention | | | | contained in the magnetic strip on the reverse of the |
| methods you can adopt: * when using your card, never | | | | card, but in chip format it is believed to be harder to |
| card out of your sight | | | | copy. |
| * if you use the card in an old carbon-copy paper | | | | Although each of these systems is no foolproof credit |
| machine, keep the carbon-copy and destroy it later | | | | card fraud prevention method, with credit card fraud |
| * never use your credit card on an unsecured website | | | | costing more and more each year, you can bet that |
| * never use your credit card to withdraw money in an | | | | issuers are going to be tackling this issue head-on: so |
| ATM | | | | stay aware of the latest credit card fraud preventions |
| Aside from the above, ensuring that you use certain | | | | methods and help combat this growing problem. |
| technological advances with your credit card should | | | | |