credit card frauds in 2020

How to Stay Safe From Credit Card Fraud in 2020

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2020 is the dawn of a new digital age that’ll go on to revolutionize the world forever. The exceptional rise in technological advancements has made the world a very small place to live in. The rise in technology has contributed to every section of society, even to those who attempt forgery or conduct financial fraud. 

Credit card frauds are common in a country like India where a million credit cards are being used every minute. Credit card fraud has become the most common type of fraud in the country. And the only thing you can do is to become smarter every day because of no matter. How much you try or fight for your hard-earned money, chances are that you may fall into the trap of a fraudster. Today we are going to discuss 5 ways to save yourself from credit card frauds in 2020!

Also read: What would you do if you lost your debit or credit card?

CALL CENTER- FRAUD

The most common type of fraud is the ‘call center’ fraud. You might have come across such scammers who pretend to call from the bank’s customer service department. These people usually ask for your credit card details like your 16-digit card number, expiry, CVV and at times even your ATM pin. These details are enough to withdraw money from your account or make a successful transaction. They’ll ask these details in the name of ‘credentials’ whereas no bank or financial lender would ever ask for the above details.

‘TAP AND PAY’

Today the means of payment have become so advance that you can just tap your card while checking out and that’s about it. A thing about technology is that it has its drawbacks, imagine if you lose sight of your credit card for a while and someone steals it, they can easily make transactions without even knowing your ATM pin! We suggest you don’t let your card out of sight and remain conscious of payments you make without entering your ATM pin, maybe get a cardholder if you have multiple cards. 

THE NUMBER GAME

It is important to safeguard your credit card, but what is more important than that? Answer to that is the 16-digit number printed on your card. Never let your credit card be seen by any person you don’t know. A lot can happen with the digits on your card so to protect it should be your mind no matter. How caught up you are while checking out from an outlet or gas station. Any document that carries your credit card number, you must tear it, destroy it or shred it off before throwing to avoid credit card frauds in 2020

A SHOPAHOLIC’S TRAIL

Most of us love shopping online e-commerce websites, be it shoes, clothes, gadgets or groceries, the list can go on and on. When you search for products online, your searches give birth to cookies that e-commerce websites may use to send you links to similar products that you may be interested in. These cookies can also be used by fraudsters who may attach or send email-links which may seem as. If coming from your bank or the credit card company you have your card with. You must never click on such links regardless of how legitimate they seem. If you have any doubts or you want to check out a new offer, visit the bank’s official website. And to check the legitimacy of the page you are on, look for the https:// on the address bar.

Also read: How to save yourself from credit card debt?

 SIGNATURE

Your signature is still a strong representation of your identity even in this digital world. One thing you must make sure is that no one should be able to forge your signature. There are certain situations like the time when you receive a new credit card. Make sure you put your signature on it as soon as it comes. When you get a payment receipt after you’ve made a transaction, make sure that no one can forge your signature. While signing you must make sure that the amount on the receipt matches the amount of money you have spent. And only after making sure to put your signature to use. There is a lot that can be done with your signature even in this digital world. So even if you are doing an e- signature beware of the website you are on, complete a signature only after you have made sure that you are on a legitimate website. 

As we move towards the future, we may come across new types of credit card frauds in 2020. The good thing is technology is helping us create a safe digital environment. Where all the data is encrypted and secure. It is always better to be safe than sorry. So we suggest you research more such types of frauds and tell us what we missed out on. We work extensively to bring you the type of content you would want to read. So if you have something in mind for us. Feel free to tell us in the comment section and we will make sure we do a blog on it. Keep coming back to creditkaro for all your banking and financial needs

Happy buying!

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