Credit Card Frauds!

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Owning at least one Credit card has become a trend to people these days. So how does actually credit cards link to one of the internet frauds? Well in this 21st century everyone wants things to be done as simple as possible and hassle free. To attract more users and make life more simpler for these credit card users banks have come up with many ways that customer can own a credit card and use one. Banks have made it very simple where from the procedures of filling up the application form, to purchase online items to settling credit card payment all online. It sounds so simple and totally modernized but stop just right there! People don’t see the big picture of it and the risk it brings to the applicants and the users. By applying online hackers and scamers can hack through accounts and obtain all your personal information, from you contact details, passwords to bank account numbers. And after this you can imagine want worst things can be done. All this have turned into a white collar crime where these scammers are not actually targeting the technology but the users through this technology.

To avoid fear and to build trust in the public banks are working hard to provide the best security bridge for customers, by equipping themselves with more secure anti-fraud codes and devices. According to David Chan, MasterCard’s International vice-president for operations and advanced payment products although Malaysia usage via electronic payment is still low however it is a ‘fast mover’ when responding to online fraud.

Reference:Malaysia ahead in fighting online credit card fraud, NetBuilder, 26 June,2006

URL:http://www.netbuilder.com.my/html/modules/news/article.php?storyid=20,

Here are few simple tips and guidelines one follow to combat credit card frauds:-

• Keep on eye on your credit card.
• Be careful to whom to give out your credit card to.
• Never respond to emails that requires you to give out your credit card info via email
• Never provide your credit information on a web site is not a secure site.
• Shred all credit card applications you received.
• Open credit card bills promptly and make sure there are no bogus charges.
• Don't write your PIN number on your credit card

Reference: Credit card fraud:21 tips to protect yourself, ScamBusters.org
URL: http://www.scambusters.org/CreditCardFraud.html

Avoid being of the victim. If you sense certain information is not right don’t go against your heart make everything clear before using it.

Always use common sense it is the best rule of thumb!

Cheers!
Tenesha :)