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.

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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:

• On Guard: Minding Your Credit Card Usage To Protect Yourself
  

  Steps you can take to protect your identity when using your credit card
  The most important thing you can do with your credit card is monitor it for fraud. It is far too easy for criminals to steal your personal information and ruin your credit file before you even realise what has happened. You can avoid [...]



• Battling Credit Card Fraud: The Types of Insurance You Can Get
  

  Credit card fraud is becoming more predominant as scammers become more sophisticated about ways to obtain people’s credit card information. However, there are several kinds of insurance is available to help protect you against this kind of fraud.



• Is Your Credit Card Secure?
  

  Credit card fraud incidents are on the rise globally, and Australia is no exception. An ever increasing broadband coverage and Internet usage, coupled with higher credit card numbers in issue, point to the urgency of ensuring your credit card security. It’s time to have a look at how secure your credit card is.



• Protect Your Credit Card Details From Cyber Criminals
  

  You should work hard to protect your credit card details because the hackers are working just as hard to steal your data. There are several ways that your information can be stolen from your computer. Protecting yourself from these threats is not difficult, as long as you are aware of them.



• Celebrity Credit Card Fraud: Jennifer Aniston and Anne Hathaway
  

  Even celebrities like Jennifer Aniston and Anne Hathaway can be caught by credit card fraud.
  Recent news reports have shown that Maria Gabriela Perez, the owner of the swanky ‘Chez Gabriela Studio’ beauty spa, stole the credit card information of several big-name celebrities and charged hundreds of thousands of dollars worth of false charges on the [...]



• Credit Card Security Measures
  

  Being a victim of credit card fraud is a very unpleasant experience. What credit card security measures do lenders take in order to keep their customers safe?



• Things To Remember: Expiration Dates And Security Codes
  

  If you do not know your credit card security code and expiration date you could be taking an unnecessary risk. Most credit card owners think it is a small thing, but knowing when your card will expire can reduce the risk of hassles and identity theft. You should also memorize your security code so that you can make online transactions even if the numbers have been wiped away from the back of the card.



• Keeping it Safe: What to do When Others Want to Borrow Your Credit Card
  

  Credit card usage is a very personal thing. Before you consider any form of credit card sharing read our guide, and make sure you keep yourself, and your credit card safe.



• How To Protect Yourself From Becoming A Victim Of Identity Theft
  

  Protecting yourself from credit card fraud should be a priority. The threat of having your identity stolen grows whenever you use your card online so you must always be on the alert. One of the biggest forms of credit card fraud is phishing scams, but they are also one of the easiest to avoid.



• Minimising The Risk Of Unauthorised Credit Card Transactions
  

  Every Australian is concerned about unauthorised credit card transactions. Regular statement monitoring and a few other security measures can keep your credit card account safe. The sooner the errors are reported, the more likely that your credit card company will not hold you accountable.



• Know The Security Features Of Your Credit Card
  

  Credit card companies use a number of different methods to protect the safety and security of their consumers. They are constantly updating their security features in order to prevent fraud and theft of your personal data.



• Credit Card Skimming – How to stop your credit card from being skimmed
  

  The use of credit card skimming as a means to steal personal data is growing. By simply adding a device on to a card reader your information can be stolen and then used to make fake credit cards and process transactions. You can avoid this by following a few steps and always taking care to keep your cards secure.



• Heightened Internet Security Awareness Needed To Address High Incidence Of Cyber Crime In Australia
  

  The rate of online crime is on the rise in Australia. 39% of Australians have been victims of Internet crime. This article discusses the rise of cyber crime in Australia.



• Banks Urged To Improve System To Prevent Credit Card Fraud
  

  Credit card fraud is an issue faced by economies across the globe. It is time that they banks stepped up their game in helping to prevent their loyal customers from being victimised. Credit card skimming is one of the growing schemes that banks need to figure out how to prevent, especially here where it costs consumers millions of dollars.



• The Cost of not Protecting your Credit Cards
  

  Credit card security is increasingly becoming more important. Be it regular shopping or online purchases, your card details are vulnerable to fraud and scam attacks. To protect your credit card you should ensure the highest level of security, as provided by the card issuers discussed in this article.



• How to keep your credit card secure
  

  An increasing number of Australians are reported to be victims of credit card fraud. With the damages resulting from such identity theft attacks reaching billions of dollars, it is imperative you take precautionary steps to ensure your credit card details do not fall into the wrong hands. This article will deal with ways to keep your credit card secure.



• Fraud Protection And Secured Credit Cards
  

  Secured credit cards are pretty much a staple in the modern world, especially in Australia, thanks to anti-fraud schemes put into place by card issuers. Read more to find out how this can affect you…



• Protect Yourself From Card Skimming
  

  Credit card skimming has unfortunately become an increasing occurrence in Australia. Read our guide to identify some key factors that you need to be aware of, to help prevent someone from skimming your card details.



• 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 [...]





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HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
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