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Credit Card Fraud Top News about Credit Cards!
2008-10-31 01:02:51

Scaring Credit Card Fraud Statistics

It is estimated that American borrowers are scared about credit fraud and ID theft rather than about upcoming Halloween events. According to the recent survey for TransUnion, two-thirds of respondents have been hit by identity theft or at least know some victims who have experienced the dangers of this crime. Ghost legends and scary supernatural stories happen to be not that scaring in contrast with those horrifying identity theft cases. A vast majority of consumers are afraid of real life dangers, like fraudulent online activities that may have terrible consequences for a victim and his or her score rating.

Even the scariest Halloween monsters look innocent in comparison with identity theft crooks who steal your personal information and make money on it. Total financial losses from fraudulent activities amount to hundreds of millions of dollars per year, millions of holders are affected by this crime. But not only borrowers suffer from credit card fraud. Judging by identity theft statistics, fraudulent transactions cost millions of dollars to online merchants.

Identity theft and fraud statistics is really scaring, but it's in your hands to protect yourself against fraudulent online and offline activities. First off, you need to keep a close eye on your card whenever you use it. If it's possible, try to avoid situations when your cards are out of your sight. Never leave them lying around as well as other documents and papers that may contain your personal information.

When it comes to providing your card number over the phone or via the Internet, you should be extra careful. Online shopping is really convenient but to be on the safe side you'd better make purchases on reputable websites.

Online scams are also wide-spread today. The cases are not rare when holders receive malicious emails that request to provide some personal information. So-called phishing scams are aimed for getting valuable personal information. But for unaware users, suspicious-looking emails and polls may look quite legitimate. The smart tactic is simply not to respond. If you hesitate or not sure whether it's legitimate or not, you'd better phone your issuer and verify this information at customer service center.

When browsing through web resources, be very careful when providing your personal information. Make sure it's a secure website.

There are certain characteristics of a secure site every user should be aware of. Keep an eye on the web page address. Over a secure connection, the URL should begin with "https". The "s" at the end indicates the secure connection. No matter what Internet browser you are using, it should display the "lock" icon in the window of the browser. By clicking on this item, you can review details of the website's security.

One of the most effective ways of offline credit card fraud protection is to shred all the applications you receive in the mail, as they may contain some sensitive information. Writing your PIN number on the card is also not the best idea as well as lending your plastics to someone else. If you plan to move, inform your issuer in advance of these changes.

In case your card is lost or stolen, phone your lender immediately. Most providers have 24-hour service and special toll-free numbers to deal with fraud and identity theft cases. Under the law, those holders who have reported the loss or theft, are liable only for $50. Some companies can even waive this fee for their best clients. Review these tips that will help you protect your identity against fraudulent activities.

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