Plastic Card Fraud Avoided With Simple Precautions
Whether you’re shopping online or at your favorite store around the corner, debit cards and credit cards are on their way to becoming the most popular methods of payment when purchasing goods and services. Unfortunately, they are also a target for a growing number of criminals who are willing to go to great lengths to obtain the information on your cards.
Although there will always be risk involved when shopping with credit or debit cards, there are a few precautionary measures cardholders can take that will help keep their information secure and out of the wrong hands. The card services department at Heritage Credit Union recommends the following tips for secure card usage:
Be cautious at the ATM
ATMs are an easy, convenient method of withdrawing or depositing funds. However, it is important to be on the look out for suspicious activity. ATMs with unusual gadgets, tape residue or Velcro attached to them should never be used. Additionally, when standing at an ATM, stand close to the machine so as to guard the keypad from any on-lookers who could be attempting to memorize your PIN.
Cover card numbers in the checkout line
When standing in line at the grocery store, it’s not uncommon to get your card out ahead of time while you’re waiting to check out. Some criminals will take advantage of people who do this by standing in line behind them and memorizing the numbers on the exposed card. Or even worse, they may photograph the card with a cell phone camera. To prevent this from happening, always make sure the account number on your card is covered when you’re waiting in line.
Report lost or stolen cards immediately
Your credit score is on the line each time a purchase is made with your card. If it ever falls into the wrong hands or is lost, don’t wait to inform your financial institution. By calling right away and canceling your card, you prevent whoever has your card from making any more fraudulent purchases in your name, saving you valuable points on your credit score.
Monitor your monthly statements and report any incorrect charges
If a purchase appears on your account that you didn’t make, immediately report it to your financial institution. It could be an error in their system or it could be that an unauthorized person has gotten a hold of your personal account information and is making fraudulent purchases. By calling as soon as you see the error, as opposed to waiting, you reduce the amount of time the criminal has to make purchases with your card.
Use only secure sites when shopping online
Look for closed padlock at the bottom of your browser window, or a URL that begins with “https” – the “s” stands for secure. Also, never respond to e-mails requesting your personal account information even if they say they are from your financial institution. A reputable company will never ask for this information over e-mail. You may also want to keep a separate, low-balance credit card for online purchases. That way, if your card information is stolen, there is less opportunity to do damage because of the lower limit.
Although card fraudsters are out there, by sticking to a few simple precautionary measures you can reduce the risk of having your information used without your authorization.
