There are various types of
credit card fraud, The most common fraud are-:
Identity theft/ Account takeover fraud
Identity
fraud occurs when your personal or financial details are taken without your
knowledge. Information is then used to take out credit cards, loans or
mortgages in your name. Account Takeover is where a fraudster gains access to
existing credit cards or bank accounts. They'll spend on those accounts, buying
items over the phone or internet or wherever the cardholder doesn't need to be
present.
Always
be very careful about how you keep and dispose of anything with sensitive
information on it. Don't just bin it or recycle it - make it illegible or shred
it first.
Lost or stolen cards
It's
easy to lose your card or have it stolen. You could drop it in a shop, someone
could pick your pocket, or you could simply put it down and forget it.
Counterfeit fraud
Skimming
is when someone copies the data from your card's magnetic strip onto another
card without your knowledge. Usually this could happen if the card is swiped
through a copying device when the card is out of sight. Always make sure you
can see your card when you're making a transaction.
If
someone asks for your PIN and refuses to bring the PIN machine to you, refuse
to give it to them, take your card.
Cash machine (ATM) fraud
Another
way a fraudster can get your details is to tamper with a cash point machine so
that it reads and stores your card details after you have used it.
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