Fund recovery from credit card fraud

What are credit card scams and how to avoid them

Every consumer's worst nightmare is credit card fraud!

Scams involving credit cards appear to be on the rise. Credit card fraud may decline by a reasonable, if not
significant, percentage due to cashless transactions and online payments. Unfortunately, the precise
opposite is happening.

Credit card fraud and credit card scams are two completely different things. A credit card scam is a minor
infraction, whereas credit card fraud is seen as a significant offense. Let's examine the distinctions in more
detail below.

What is the definition of credit card fraud?

Credit card fraud occurs when somebody uses your credit card against your permission. For example, it
happens when someone physically steals your credit card. Another type of credit card fraud occurs when
an unidentified individual uses your personal information without your consent to apply for a credit card.

What exactly is a credit card scam?

When a hacker calls you and persuades you to give him your personal information, this is referred to as a
credit card scam. It could be as simple as a call from someone claiming to be from the bank advising you
of a past-due balance or anything similar.

How do credit card scams work?

The internet has grown abundantly since its creation. It has brought in a flurry of changes and enabled a lot
of things. Furthermore, the internet has turned into a center for learning. There's also deception. Many
hackers exist who will deceive you, take your money, make purchases in your name, and so on. It's vital to
catch them, or at the very least learn how to prevent becoming a victim.

Following are a few ways credit card scams may work:

 Theft: Crowded places like buses, markets, public places are a hub for credit card thefts.
 Computer hacking: Clicking on a random link for downloading a file can unintentionally

download the software, which the scammers use to hack into your accounts.
 Unsolicited phone calls: If you receive any random phone calls asking you to divulge your credit

card details, do not provide them, as the calls are usually from scammers and not from any
officials.
 Skimmer: A skimmer is an electronic gadget found in ATMs, petrol pumps, and retail outlets.
The skimmer uses the magnetic strip behind the card to obtain your credit card information. It is
preferable to use ATMs and petrol pumps over any abandoned spot in public places.
 Cloning of cards: The skimmer is typically used for card cloning. EVM chip cards during
payment are the safer alternative for avoiding credit card fraud.

Avoiding credit card scams

Avoiding credit card scams is not a monumental task. However, it is easy as long as we follow some steps.
Below are some points to avoid being a victim of credit card scams:

 You are asked to save your credentials for future usage while making payments. That option
should never be selected. It's dangerous.

 Continue to look over your credit card balance monthly. There's a good chance that transactions
are being conducted on your behalf without your knowledge.

 Check to see if you're clicking on a safe link before proceeding. In the URL, look for "HTTPS."
If you see "HTTP" instead of "HTTPS," the site you're visiting is generally not secure and could
result in a security breach. Take care.

 Making a payment via a public wifi network is never a good idea. Public wifi is insecure and
prone to being hacked. In addition, the hacker can see the pages you visit and the information you
enter when you use them to make online payments, making the hacker's job easier.

 Do not click on any social media offers that look too good to be true. Google them for frauds. Do
your homework before accepting such submissions.

Summary

Credit card scams are one of the standards and popular forms of scams. They can occur in various ways,
such as in crowded places, through software installation, cloning of cards, etc. Hence we must understand
the ways the scam takes place and be alert. Checking monthly bills of credit cards, the websites we use,
making payments only through the secured networks and not a public one, etc., will help keep your card
safe.