Beginner’s Guide To Preventing Card Fraud

22 November, 2014 (00:09) | personal finance investment | By: admin

According to one poll done, one in five Americans have fallen victim to credit card fraud and/or identity theft. This is a major problem, as fraudsters have found new ways to steal your money, often without you even knowing what has been happening for a few months, or even years. This form of criminal activity is preventable, if you are aware of what is needed to gain access to your identity or your accounts. Taking preventative measures to stop this situation happening in your life will mean not having to deal with the repercussions. These can include a lowered credit rating, which is damaged for life, massive repayments, cancelation of accounts etc.

What Details Fraudsters Need

Firstly, knowing what fraudsters need to be able to steal your money, or opening up new credit accounts is important. Things such as social security number, driver’s licence number, current address, employment records (Such as payslips.), or other bank account details are what these criminals are after. Using this information, these criminals can open up credit accounts in your name, or use your current card online. While you may think this information is hard to get, it’s a lot easier than you’d think for a professional who has done this many times before.

How Fraudsters Get Your Information

In order to get your information, it is usually very simple. Looking through your mail, or stealing your mail is one easy way to find out any personal details needed. Despite the internet and email being a new way and secure way to send information, many of us still receive our bills and other mail through the post.

Suspicious Signs

There are some suspicious signs to look for in regards to this. If you have had a few ‘lost’ bills or important notices for a couple of months in a row, then it is a possibility that the mail is being stolen, not lost. It is highly irregular that too much mail will go missing. To prevent this, put a lock on your mailbox, or change the lock if you are currently using one, and contact your bank or financial institute about this and your concerns. They will be able to look through the history of the card, to see if there have been any odd purchases made. Do you know about the Diners card and 28 Degrees Low Interest MasterCard

Other Ways Your Personal Information Can Be Stolen

Another way is through stealing directly from your house. If you throw a big party, your roommate invites a friend over, or if you have someone you don’t know in the house, they could find your information and copy it down, or steal it. Don’t leave your personal details lying around your home. Keep them somewhere safe and secure, in a place where only you know where they are, under lock and key if that makes you feel safer.

Credit card fraud and identity theft is real, and it is preventable. Being vigilant and looking out for the any suspicious signs and/or taking the above measures should help you to avoid much (Hopefully none.) damage done to your credit history and your life. If you have any concerns or questions, then speak to your credit provider.

About the Author

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