Credit card fraud
What is a credit card fraud?
Credit card fraud occurs when there is a theft or fraud in a payment transaction by using a credit card to purchase or obtain unauthorized funds from a particular account. The fraud is usually occurs when there is a credit card stolen, credit card lost, credit card security code stolen, credit card application fraud and account take over.
What should you do if you lost your credit card?
If you lost your credit card, you should immediately report to the credit card issuer and if you feel it is necessary, report to the police too. Once you have report your lost credit card, you are no longer baring the responsibility on any unauthorized use of the credit card.
It is advisable to store all the contact numbers of the banks for any of your credit card, incase of any lost, you can immediately report to the bank without delay. This is important because the credit card is still usable until you notify the bank.
How to prevent your personal information being stolen?
For a standard credit card, it should contains the information as shown below:
- Verification or CVV code (security code)
All these info can be highly useful for a theft as an additional information of credit card holder verification. With this information, the theft is able to perform payment transaction easily, especially on online transaction. To prevent these informations being stolen, here is some suggestions to share with.
- Never perform any online transaction outside a security guarded website.
- Ensure the transaction is made under link address start with “https”.
- Never reveal any of your credit card information with anybody else.
- Keep you credit card deep in your purse to prevent easy falls out.