At the present time, persons who do business through fraudulent means never seem to stop. A huge percentage of Americans fall victims to scams and frauds, costing them hundreds to thousands of dollars.
Has this ever happened to you or someone you know? If not, it may be just a matter of time unless you know how to protect yourself from the dangers of credit card fraud and identity theft.
Think of this scenario; you made a few transactions on the internet for subscribing to newsletters, gaming websites, or even for purchase of certain items, and you used you credit card to cover for these expenses. You have been sure that you monitored your credit card charges closely, but you get the shock of a lifetime when you receive your monthly credit card bill.
Lo and behold, you have amassed thousands of dollars worth of credit card charges, for purchases you are not even aware of, let alone familiar with. What has happened? What can you do about it? It looks like you have become one of the millions of victims of credit card fraud.
Credit card fraud is almost synonymous to identity theft, in which someone else aside from you, has been using your credit card and getting funds from it without you even knowing it. Is there a way around this dilemma?
As a matter of fact, there are now many systems employed by online businesses, credit card companies, and banks for identity theft protection or credit card fraud protection. In the United States, the Federal Trade Commission (FTC) is the agency to which reports of credit card fraud are forwarded. Aside from that, there are local and regional authorities who can investigate on these matters.
So what can you do to prevent yourself from becoming a credit card fraud victim and avoiding the loss of hundreds to thousands of dollars from your hard-earned savings?
One of the most basic things to remember is to never give out your credit card number or whatever information about your card to anyone. This is a careless move which many people commit when they make transactions over the internet. Unless the website is reputable and has a guarantee of security, you should not disclose such information over the internet.
Secondly, if you have been receiving your credit card statements by mail, be sure nobody else outside of your home has access to these documents. A lot of persons who have fallen victim to identity theft and are now seeking identity theft protection made the mistake of tossing out their card statements in the trash, only to find out that someone has been going through them and using these documents for fraudulent means.
If you have a stolen credit card, call your card issuer right away. Once you have made that report, your card will be blocked, and if there are any purchases that have been reflected after such date will not be your responsibility anymore. Visa and MasterCard are among such companies that offer fraud protection for their clients. You can find out more about this by contacting your credit card provider.