Beware of credit card fraud

Fraudulent activity hurts society on multiple levels, but there are a few things you can do to protect yourself.

09:45 05 August 2013

Car insurance agencies are under pressure to revise the claims process to properly fight fraud. The industry has even been accused of encouraging fraud by the claim process. It has been reported that, often claims were not verified for medical credibility because the cost of fighting the claim would be more than processing it.

Fraud happens within many different industries and consumers end up paying the higher prices, whether it is to compensate for retail theft, car insurance fraud, or credit card fraud. While you can’t control every situation, here are a few ways that you can at least protect your identity and avoid credit card fraud:

• If you receive a phone call requesting your credit card information, no matter what the reason, do not give the information out. Ask if you can call back at a later time, and try to get the information for the company. This may be enough to disrupt a fraudulent caller.

 

• Never let anyone else use your credit card, no matter how much you trust them, and keep your PIN a secret. Don’t pick something that will be obvious to anyone who knows you fairly well.

 

• When shopping online try to avoid storing your credit card data on your favourite websites. It’s worth the extra minute it takes to fill out the data again if it means that your information will be better protected against potential credit card fraud or even identity theft.

 

• Whenever you use your PIN, try to shield the keypad to prevent anyone from looking over your shoulder to obtain your PIN code. Be especially wary of anyone who seems to be standing too close when you use an ATM and try to choose ones which have security cameras for your protection.

 

• Always keep your credit card in sight when doing everyday physical shopping and don’t permit someone to take your card anywhere that prevents you from seeing what done.