Credit card fraud is becoming a major problem, and anyone can be its target. However, with proper precautions and awareness, it can be prevented.
Credit card frauds are growing day by day, with people losing tons of money online and offline due to a lack of awareness and means to combat these scammers. With the rise of cashless payments and the increasing comfort of digital payments, it is getting easier for cyber criminals to trick people into lucrative scams and frauds.
People are now using their credit cards for all kinds of payments making them more susceptible and easy prey to online and offline frauds. With proper precautions and mindfulness, these scams can be prevented. Here are the 5 effective ways you can protect yourself against credit card fraud.
1. Protect your personal informationMake sure you do not share any of your card details, such as CVV code, PIN, and personal details with anyone, especially on social media and during phone calls. Bank officials never ask for such details over the phone, so be mindful of what you share and how much.
2. Monitor account activity regularlyWhile It may sound like a boring task, you must spend a few minutes every day to monitor your credit card and account activities. This is to ensure no unauthorised transactions or other charges occur. Additionally, keep a record of all offline transactions with receipts for maximum protection.
3. Use secure payment methodsWhen shopping online, make sure you are spending on a legitimate and secure website with HTTPS encryption. Avoid clicking on unknown links and do not connect to public wi-fi when making payments to avoid data theft.
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4. Use Two-factor authorisationIf possible, enable two-factor authorisation to ensure an additional layer of security as it requires a verification code in addition to your password to access the card payment. Also, turn notifications and alerts for bank transactions and charges to stay informed about your banking activities.
5. Keep your physical card safe Be careful when using your credit card in public. Make sure that you keep it within sight at all times and also destroy all your previous bank statements and details before discarding them.Staying informed and alert is the key to protecting your hard-earned money from such cyber criminals. Ensure you take effective measures and contact the National Cybercrime Reporting Portal (NCRP) to register cybercrime complaints.
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