Credit Card Fraud And What To Look Out For

Credit card fraud is no new thing and if you ask around you will possibly find at least one person you know who has been the victim of such a crime. And no, its not all internet - based either. Often it will happen when you least expect it to, in restaurants and in stores and shops.

I personally have used my credit card many, many more times on the internet than in shops in the high street or in restaurants. On the internet I have had no problems ever. I have been defrauded when using my card at a gas station, however. So this goes to show that its certainly not the case that all fraud is on the internet. I trust the internet more, actually. Its not difficult for someone who works in a restaurant as a casual waiter or waitress to attain your card details by what is known as "skimming".

So how can we be the victim of offline credit card fraud? Nothing new here - its called "skimming". What is skimming? Its where, for example, you give your card to a waiter or waitress in a cafe or coffee shop to make payment. Shortly they return your card to you and you think nothing more of it. What has happened though is that the card has been "swiped" for payment, not once but twice. So your card details are now being stored in a magnetic card reader which can then be downloaded to a computer for use.

To prevent this from happening on your account - or rather not to prevent, but to be aware - is to check up your statements very regularly. Not only to check them but go through them very carefully too. Thieves often make very small transactions to try to fool us into thinking nothing about them, so its sensible to query even small transactions on your statement.

Banks and other financial institutions have powers to compensate you in full should you be the unfortunate victim of credit card fraud but should be any reason for complacency. They will not always compensate you which is what happened to me, although thats a long and rather complicated story.

Here are a few pointers to help in reducing your credit card fraud potential:

- any thing other than your credit card statements or any other valuable document pertaining to your credit card you should shred or burn. Do not just simply throw it in the bin and presume it will be safely disposed of

- if you are ever asked to provide credit card account details over the phone you have to ask why. Its possible this could be fraudulent activity to be very sure before you divulge anything at all

- do not lend your credit card out to anyone unless you trust them implicitly

- only carry the credit card or cards that you need and leave the rest in a safe place

- make sure not to simply leave any credit card slips lying or do not simply throw them in the local trash can

- do check your statements on a regular basis to make sure there is no strange expenses on there

- if you are relocating, do let your card companies know about this well in advance

Simple ways to keep your credit card safe and your money secure, so its just a matter of being aware and remembering just how easy it is to be a victim of credit card fraud.

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