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Types of Credit Card Fraud

In our current age of technology, high-tech thieves are targeting plastic cards, credit, debit, and charge.  This article describes some common schemes involving card fraud along with tips on how to avoid them.

Avoid Credit Card Fraud

Below are some examples of situations to be aware of:

Stolen credit cards at the office:  During your lunch hour or at times when your office or area is unattended you may be at risk for a credit card thief to come in and go through your belongings.  If a thief is successful in obtaining some stolen plastic many times they head right out and go on a shopping spree.

In order to protect yourself from this kind of offense you need to protect your credit cards as you would cash.  Don't leave them where a thief could get to them, even if you are only going to be gone for a short while.  Never write your PIN number on your credit or debit cards. 

Merchants making extra copies of charge slips:  Upon making a purchase with your credit card, make sure the merchant does not imprint a few extra copies of the charge slip.  After your are gone the dishonest merchant  can submit the extra copies to the issuing institution for payment on phony charges. 

Always keep an eye on your credit or debit card when it is in use.  Make sure to open your statements promptly each month and review the charges.  If you find any questionable charges, report them to your credit card company.

Discarded charge slips:  Thieves could collect  your discarded charge slips from various locations, wastebasket, in your car, at the gas pump.  The thieves then could use the information to order merchandise by mail and have it shipped to a phony address.  They could also sell the copies to counterfeiters who would take the account numbers and use them to alter cards or make new ones.

Make sure you always get your receipt.  Don't leave it in the pump at the gas station or through it away walking out the door.  Hold on to them until they can be properly disposed of.  Tear them up or even better, shred them.

Unsigned credit cards:  Stealing and using unsigned credit cards is another type of potential fraud. 

Protect your credit cards by signing them once you activate it.  Cut up expired credit cards before disposing of them.

Strange requests for PIN numbers:  Thieves often find creative ways to steal your credit or debit cards when you don't know about it.  They can steal your pocket book while you are at the movie theatre watching a movie and when you return home they call you, identify them as your bank security agent and ask for your pin number.

Never reveal your pin number to anyone.  Never keep your pin number in your purse or wallet.  Memorize your pin.


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