Credit Card Fraud, Traps and Scams: Guide to preventing the risk

Credit card fraud is an ever increasing evil we as consumers have to deal with. The Internet has made it near child's-play for fraudsters to trick us with credit card traps and credit card scams and as with most things, the best line of defence is knowledge.

Become savvy enough, even when shopping online and you won't have much to fear at all.

Credit Card with Good Security Features

The ANZ Low Rate MasterCard offers ANZ Falcon which is an anti-fraud protection feature. If an ANZ analyst identifies a possibly suspect or unusual transaction on your credit card account, you will be contacted to confirm the transaction. The ANZ credit card online shopping guarantee will also cover your credit card against any unauthorised fraudilent internet purchases on your credit card

• $58 annual fee
• 12.74% p.a. on purchases
• 20.99% p.a. on cash advances
• 0% p.a. for 6 months on balance transfers
• ANZ 24/7 Credit Card Protection with ANZ Falcon

Click here to read the ANZ Low Rate MasterCard terms and conditions

Our credit card fraud prevention tips.

These days I would be much more concerned to leave my credit card out of sight at a restaurant or bar than purchasing goods over the Internet. But then, I already know the many credit card traps out there.

The following tips are here to help you become a savvy card user without having to fear credit card scams or abuse.

Top ten credit card scam prevention tips

1. Common sense is a virtue and enough of it is a buffer against credit card thieves: OK, while this is more of a saying, it clearly states the fact that we need to use common sense when dealing with credit cards. It is logic in its purest form but interestingly enough many people misplace logic when dealing with their cards.




2. Never let your card get out of sight: This includes shop counters, restaurants, bars, nightclubs, hotels and basically everywhere you spend money with your credit card. When using it in front of other people - bystanders waiting to pay themselves - do not expose your card face to their prying eyes or mobile phones.




3. Treat your credit card like a national treasure: Keep it private! Do not ever share your card with family members, friends or partners unless you share the privileges of a partner card for a joint account. Plus, sign your card the moment you receive it!




4. NEVER click on email links prompting you to check your online/offline account: This is a blatant phishing attack and one of the biggest credit card scams out there these days. Millions of people fall prey to these clever tactics loosing thousands of dollars in the process as their cards get swiped clean by thieves who stole their login data.




5. If you shop online always check the site you are required to pay on is a HTTPS:// instead of the usual HTTP://: The added (s) stands for extra security layer which keeps your sensitive data secure.




6. Check your monthly statements: The best way to protect yourself against credit card fraud is by checking your credit card statements diligently each month. If some charges look dodgy to you, report them immediately to your bank to investigate.




7. Never sign blanks: Some hotels still require you to sign blank receipts on check-in. Don't. Ask them to put in a figure instead and then make sure it's voided when you pay your bill on checkout. By voided I mean ripped up and then shredded in front of your eyes. These are potential credit card traps.




8. Keep a secure backup: It's a good idea to write down your credit card numbers, account numbers and the like on a securely kept piece of paper in case you ever need emergency access to report abuse or a stolen credit card.




9. Always shred: Buy a shredder (they are affordable) and shred all your financial data! Thieves increasingly lurk nearby bins and will stop nothing short of going through your waste to get to your money.




10. Don't forget to notify your credit card lender when you move: Chances are if you do that your card might fall into the hands of shady characters.

If credit card fraud is your worry.

If you are worried of having been a victim of credit card fraud contact your lender immediately! The card will be cancelled and steps taken to stop money being stolen from your account.

Check out the Credit Card Finder list of articles & guides that you can follow to reduce the risk of being caught in a credit card scam or fraud attempt:

• Tips To Protect Your Financial Identity And Improve Your Online Security
  

  If you are doing any banking or shopping on the Internet then there are a few important things you should know about online security. This article explains what you should look for to avoid giving out personal details to suspicious sites.

  One of the crimes that is growing fastest in the world is financial identity theft, [...]



• Anti-Money Laundering, AML
  

  The Australian Government has recently implemented the anti-money laundering (AML) and the counter-terrorism financing laws to get up to speed with international laws. This will also protect businesses from being abused by money launderers and from anyone trying to use that business to fund terrorism.

  These major changes mean that from now on anybody trying to [...]



• Password Protect Your St.George Vertigo MasterCard
  

  The St.George Vertigo MasterCard is unique in that it offers low rates on both balance transfers and on purchases for the first six months and still reverts to one of the lowest standard credit card rates available. While St.George accounts are extremely secure, you can add an extra level of security to your account by password protecting your account. This is what makes the St.George Vertigo MasterCard unique.



• How to Protect Yourself From Card Skimming
  

  Credit card skimming is the process of stealing someone elses information off their credit card or ATM card. This is because an increasing problem today and you need to know how to protect yourself from credit card skimming. This article reveals the signs of being a victim to credit card skimming, how to protect yourself and how to report credit card skimming.



• Online Credit Card Fraud Exposed
  

  We expose the truth about online credit card fraud and how to keep yourself protected. We cover online credit card fraud protection including: Phishing, Pharming, Smishing, Fake Software and Malware. By knowing all about online credit card fraud you will be better prepared at knowing exactly how to deal with it if you are ever affected.



• Spam Alert – Be Aware
  

  SPAM is becoming increasingly more common and is affecting more and more people as internet usage goes up. Provided is a guide on how to stay spam alert and safe. This guide includes signs that a message is spam and how to protect yourself from spam.



• Internet Banking: How To Protect Yourself When Banking Online
  

  Internet banking is the simple, quick and convenient way to make purchases online. As good as internet banking is it does have it’s associated risks. The good news is you can take these steps to protect yourself from online scammers.



• Australian Credit Card Fraud Statistics
  

  We are all aware that credit card fraud is on the rise. However when we are shown the raw statistics on credit card fraud it is more realistic for us to imagine how vulnerable we really are. Find out more information about credit card fraud here.



• Keep Your Aussie Credit Card Secure
  

  Credit card security is becoming more important as credit card fraud is occurring more often. This article shares with you 9 tips on how to increase your credit card security.



• 12 Tips For Better Internet Security When Using Your Credit Card
  

  Credit card fraud is on the rise so it is important that you learn how to raise your internet security levels on your computer whilst involved in online financial activity. Here are 12 tips to read.



• Using Your Visa Credit Card in an ATM Machine
  

  Visa credit cards give you the ability to withdraw cash using an ATM machine. Although this is convenient it is more important to ensure your own safety when using an ATM machine. Here are some tips on how to stay safe.



• Credit Card Protection Tips
  

  With cashless payment becoming common place in today’s economy it is important we protect ourselves from credit card fraud. This article shares some simple tips you can use to protect yourself.



• Online Shopping Tips When Using A Visa Credit Card
  

  Do you use a Visa credit card to make online purchases? If so then you are at risk of credit card fraud. To ensure you are not in danger this article provides some online shopping tips to protect you from it.



• How To Protect Your Privacy When Using The Internet
  

  Protecting your privacy online can be difficult these days and many websites are able to get a hold of our personal information. It is important that you review a websites privacy policy before interacting with that website. Here is some guidance on how to go about protecting your own privacy.



• Protecting Your Credit Card
  

  Credit card fraud is becoming more and more common these days so it is important you protect yourself so you are not vulnerable in any way. Here are some steps you can take to ensure you are protected.



• What Does Verified By VISA Mean?
  

  This article explains why Visa card holders can have a peace of mind if they are verifie



• Security Features Of A MasterCard Credit Card
  

  Credit card fraud has become increasingly more common. So if you are a Mastercard credit card owner then here is a security checklist to tick off to ensure you are protected from any fraud in the future.



• Retailers Beware Of Recent EFTPOS Terminal Skimming Operations
  

  Both retailers and consumers in Australia should be extra cautious over the next few weeks due to recent credit card fraud activities. Although the target of these scams are of EFTPOS machine owners, consumers also need to be aware. Here are some credit card fraud protection tips for both retailers and consumers.



• How To Identify A Fraudulent Credit Card
  

  To identify a fraudulent credit card you need to be able to recognise the signs. Learn how.



• How To Detect Fraudulent Credit Card Transactions
  

  Fraudulent credit card transactions can really wreck havoc with your mind. They can make your life a nightmare unless you know what steps to take if you find yourself at the wrong end of financial abuse.





• Page 1 of 2
• 1
• 2
• >


Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
St George Vertigo	Editor's Choice: Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers	16.99%	16.99%	1.99% for 9 months	$0	55