14 DAY TRIAL // Financial institutions from all over the world are struggling to put an end to credit card fraud, but the task has proven more difficult than anyone would have imagined.
There are certain situations in which the credit card holder can’t really do anything to safeguard his/her credit card information.
For instance, the Barnes and Noble incident in which 63 point-of-sale keypad devices were hacked. The victims had no way of preventing hackers from stealing their details and misusing them.
However, credit card holders should do the best they can on their end to ensure that their financial assets are safe.
According to Symantec experts, one of the main “ingredients” is keeping credit card information safe. This means that users should never post the sensitive information on social media networks.
Also, personal credit card details should be kept out of any discussion. As Symantec’s Jimmy Edge highlights, “loose lips sink ships.”
SSL certificates for websites on which you provide credit card information are a must. Without the secure connection, crooks can easily intercept the valuable data and misuse it. The lack of an SSL certificate might also mean that you’re not on a legitimate website.
Cybercriminals are not the only threat when it comes to protecting yourself against credit card fraud. Thieves can go through your trash bin in an attempt to dig up documents that can help them commit identity theft.
That’s why experts recommend that you shred all the documents that contain personal details before disposing of them.
Finally, if you suspect that someone is making fraudulent purchases on your behalf, or simply emptying your bank account, be sure to report the problems as soon as possible.
You can identify attempts of fraud by keeping an eye on your credit reports and if you act quickly, chances are that you will not lose a single dime.