| According to Homeland Security, credit | | | | pretty ingenious ways to commit fraud |
| card fraud can cost as much as $500 | | | | offline as well. Here are some tips to |
| million per year. Consumers are using | | | | take note of. |
| their credit cards more, which increases | | | | When you use your card and it is |
| the pool that fraudsters can target. | | | | returned to you, make sure you check the |
| When card fraud happens, we all pay for | | | | card carefully. Consumers have been |
| it. Credit card companies increase fees | | | | faced with huge bills that were made |
| such as the charge back fees and these | | | | using their credit cards that were |
| are passed down to the consumer. | | | | stolen without their knowing. This |
| Consumers must be extra vigilant when | | | | happens when you pass your card to a |
| using their credit cards and even more | | | | merchant to pay for goods and your card |
| careful when maintaining their financial | | | | is switched with an identical expired |
| information. | | | | card that belong to another person. |
| How can you prevent paying for card | | | | Some fraudsters are bold enough to pose |
| fraud? | | | | as staff at restaurants and sidewalk |
| Even though prevention methods have been | | | | cafes and without you seeing, simply |
| issued over the years, millions of us | | | | walk off with your card when you hand it |
| only practice some of the safety | | | | over to pay for a meal. Do not let your |
| measures. | | | | credit card out of your site at all. |
| We have been told not to carry all our | | | | Let your attendant bring a portable card |
| credit cards with us, but how many of us | | | | machine to you or make your way to the |
| still do. We rationalise that if my | | | | till to pay for your items. |
| credit cards are at home and my home is | | | | If you complete a credit card |
| burgled, I would be no better off. | | | | application that you did not post, make |
| However if my purse is with me at least | | | | sure you shred or burn it. Fraudsters |
| I could guard it at all times. | | | | are not beyond searching through your |
| Based on the US Department of Justice | | | | garbage to find items such as credit |
| report which stated there were 2,154,126 | | | | card receipts, old check books or |
| burglaries in 2005 compared to 417,122 | | | | anything that can give them personal |
| robberies nationwide for the same year, | | | | information about you. |
| I can see your point. But why not use a | | | | There are many other tips for credit |
| safe or safety deposit box to store your | | | | card safety; these are just a few to |
| credit cards. Alternatively you can | | | | remind you of the need for safety. |
| carry your credit cards in a bag or | | | | While the credit card companies try to |
| pouch separate from you purse or wallet. | | | | implement safety measures like chip and |
| Fraudsters are becoming more and more | | | | pin, the responsibility lies with you |
| sophisticated, and although most credit | | | | the consumer to guard and protect your |
| card fraud occurs online, there are some | | | | credit card. |