Credit card fraud is on the rise. Some recent high profile incidents, such a the Target security breach in which as many as 40 million credit cards may have been compromised, is an excellent example of why we must remain diligent in protecting ourselves and limiting our risks of exposure.
It is estimated that 10% of Americans have been the victim of credit card fraud. The Sony PlayStation data breach of 2011 affected 77 million accounts. That ended up costing Sony nearly $3 million in fines and lawsuit settlements, but it also cost 77 million people time, money, and exposure to criminals trying to steal their information.
The following simple steps can be taken to prevent becoming the victim of credit/debit card fraud:
1. Use cash when you can. Paying in cash when you shop is the safest and most effective way to prevent becoming a victim of credit/debit card fraud.
2. When shopping online, try only to shop at trusted establishments which your are familiar with. Shopping at unknown retailers, or worse yet, retailers outside the United States puts you at greater risk.
3. If you must shop at a new retailer, check their background and location as much as possible. Do a search online regarding the company, and read several reviews from independent sources about the company’s reputation.
4. Check to see if they have any certificates from companies that ensure company privacy standards. These companies confirm that the certified company has met the standards confirmed by clicking on the certificate.
5. Don’t provide sellers with more information than is necessary when making a purchase. Communicating personal information always puts you at greater risk.
6. Insure the website you are using to transmit your credit card data is encrypted. You can determine this because the website address begins with https: or shttp: to indicate it is secure.
7. Finally, check your card account activity online at least once a week. Identifying bogus or fraudulent transactions will allow you to address them quickly with your bank. By law, you are only liable for the first $50 in fraudulent activity if identified within 60 days of receiving your bill, and some banks even waive the $50 rule.
The key to using credit and debit cards safely is diligence. As described above, understanding who you are dealing with, paying close attention to how much personal information you release, and monitoring your account activity on a frequent basis are simple steps anyone can take to stay safe and avoid becoming a victim of credit or debit card fraud.
This article is writen by Peter Zimmermanteam,write an article to combofix.org via combofixorg AT yahoo.com
