Credit & Debit Card Fraud – Security Measures to Stay Riskfree!

Wikipedia tells, “In 1999, out of 12 billion online transactions made annually, approximately 10 million—or one out of every 1200 transactions—turned out to be fraudulent. Also, 0.04% (4 out of every 10,000) of all monthly active accounts were fraudulent.”

Online shopping is a commonplace nowadays and most of us do not realize the fact that we put our confidential information at risk when we hit that Pay now button. However, card fraud is not just associated with the compromise of data but with the physical card theft as well. Therefore, to keep a tight control over your credit card, here are some effective security steps:

Secure Internet Browsing

Whenever browsing any shopping website, make sure to check whether the address of the website starts with “https” as it indicates a secure connection. Website addresses that start with “http” are not secure and could probably be a scam. You can also use secure browsing tools to ensure complete safety.

Set a Hard-to-Guess PIN

Most credit card holders make the mistake of setting their PINs as simple as 123. This is where the attackers could easily get hold over your online transactions. Remember a hacker would try as many as possible password combinations to hit the target.

Never Share your Card Details Over Call

Attackers make spam calls to online shoppers representing them as Bank Officials and ask for credit card details. One should never share your PIN number, card number, and other such information over calls, messages or emails. Banks never ask for your personal details!

Don’t Share over Social Media

A picture of your credit card with a caption “Here’s my new credit card” uploaded on any social media platform such as Facebook and Twitter might be exciting to you, however, this could be a golden opportunity for hackers to steal your money.

Use Web Security Tools

You should always keep your computer and mobile device updated with a web security tool that supports anti-phishing and anti-spamming features. This way you can ensure maximum safety to your personal data when shopping on the Internet.

Check Your Card When it is Handed Back to you

While shopping at a mall, you  give your card at the payment counter and after swiping it the card is returned to you. But do you give that card a look before putting it back in your wallet? Well, it is always a good idea to ensure that the card handed back to you is yours.

Never Save your Card details Online

Many online websites and browsers ask you to save your card details for future use and quick payments. But before hitting the save button, keep in mind that you will be in trouble if your account gets hacked. Also, if your device gets stolen, then the saved information can be misused by the thief.

Be Cautious at the ATM’s

Make sure the the ATM screen and keypad are completely shielded while entering your PIN. Also, keep in mind that taking help from someone for using your card can be risky.

Report Immediately if your Card is Missing

In case you could not find your card, or it is lost or stolen, then wait no longer and contact your bank instantly. Most banks have free 24-hour telephone numbers to encourage prompt reporting. This way you can put a temporary lock on your card so that it is not misused by anyone.

Report if you see some suspicious activity at the ATM

If you notice a suspicious device attached to the ATM machine or see a person  performing some abnormal activities, then  immediately call the concerned authorities and bring the issue to their notice.

Cases of credit card fraud are increasing day by day, which makes it crucial for online shoppers to pay attention to security measures for keeping their money safe and secure.

Note: This post has been updated.