7 Tips To Protecting Yourself Against Credit Card Fraud
These days everyone online shops! Should you get sucked into any online scams, lose your card somewhere, so on and so forth, the bank can put in a claim for you to get your money back. Now nothing is guaranteed, especially when it comes to fraud with companies you’ve dealt with in the past, your card being used fraudulently by chip and pin, or Email Money Transfers (since this is basically cash money). So it is a good idea to practice preventative measures. Particularly for the older generation and students because they are the most vulnerable to online scams so if you have any grandparents or just parents that are not very tech-savvy, children with access to a card and some online games; be careful and monitor what they are buying online. Here are 7 tips to help protect yourself against credit card fraud.
Telephone scams. Especially during tax season. Calls from people claiming to be the CRA saying that you owe them money can be dangerous. Rule number one, don’t answer phone calls from numbers you don’t know. Anyone who really needs to get in touch with you can leave a message and you can call them back. Listen, the government doesn’t get in contact with you like that. Check their official website to verify the info if you’ve received a call. And of course, if you check your finances regularly, you’ll know if you owe the government.
Mobile Banking. A most useful development. Check your accounts on the go to ensure there are no transactions you do not recognize. Just make sure to use your data or home wifi when checking your accounts. Fraudsters can hack into your devices through unsecured networks.
Never give your passwords to anyone! Even your spouse or parents. Of course, you trust those around you but from personal experience, people get weird when money is involved. Sometimes it doesn’t matter how much money. Protect yourself against family-friendly fraud by upholding your cardholder agreement and keeping your security codes to yourself (the banks will ask this should you have to submit a fraud claim).
If a deal is too good to be true… it probably is. Online clothing websites can also be fraud so read a new online seller’s about page, FAQ… etc before willingly giving them your card number. Remember to read the fine print!
Please do not click on pop-ups on your computer.
When traveling (ex from Canada to the USA) remember to bring cash with you. In certain parts of the States and internationally they do not yet have chip and pin terminals or tap terminals so they only accept swipe and sign. Swiping and signing your card is one of the surest ways to get compromised. A scanning device can easily be hooked up to a terminal undetected and collect your card number while you use it. Bring cash with you or get an American card (Canadian banks offer American Cards for traveling).
Use external payment processors like Paypal to put a buffer between you and the merchant. They also have their own Fraud Department to help you get your money back.