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How to avoid credit/debit card fraud?

How to avoid credit/debit card fraud

With increasing card usage, news reports of card fraud are becoming common now days. It does not mean we mean stop using plastic money, but taking few steps and exercising some caution can help you avoid a card fraud. We have taken an effort to list them for you.

  1. Update any change in your contact no or email id so that you receive all transaction alerts.

  2. Do not share your card pin number with anyone or write it down on your card. No bank official can ask you for pin or CVV number, so do not entertain any such requests.

  3. If someone calls you claiming to be a bank official, then check the number/ISD code he/she is calling from. Banks officials will usually never call you from a mobile phone. All calls originating from India will begin with +91(India ISD code). If in doubt cut the call and directly call the bank number indicated at the back of your card.

  4. Online transactions require CVV number, so remember the CVV number and remove if off from your card.

  5. Ensure that credit card is swiped in your presence to avoid stealing of your card data.

  6. Switch to chip based card as they are more secure as compared to conventional magnetic strip based card.

  7. Remember the gold rule that no one gives anything for free in today's world. Do not entertain any mails or calls claiming that you have won lottery, prizes, lucky draw etc.

  8. Ensure online transaction is carried out on a secure connection. Ensures site URL starts with https instead of http. “S” in https stands for secure connection. Example- https://www.xyz.com

  9. If you feel fraudulent transaction has been carried out on your card or security of your card has compromised, then immediately inform your card company and get your card blocked.

  10. Use virtual credit card for online transactions as they are more safe.

  11. You can avail card protection plan to secure all your cards and emergency assistance services in case of a credit card fraud.

  12. Avoid use of card on public computers. Install anti-virus and firewall on your computer to prevent spyware from stealing your personal data.

  13. With increasing use of mobile wallet, one should set up biometric or password protection on mobile to avoid fraudulent use.

#avoidcardfraud #stepstoavoidcardfraud #creditcardfraud

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