Credit card fraud He has been on the rise in recent years.
The latest database of the Federal Commission for Trade shows that in 2024 416 582 cases of fraud with credit card were reported, making it one of the most common forms of identity theft. You know you were the victim of this fraud when you notice unauthorized transactions on your credit card account.
These transactions are usually below $ 100 to avoid detection. However, I can sometimes exceed $ 1000. One such an incident happened with Martin from Martinsville, Virginia, when he was randomly charged $ 1095 in Hong Kong.
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“Hello, I recently got fraud warning From my card house that said that $ 1095 was charged on my credit card in Hong Kong. For online shopping I use my ipad and safari browser. Can you please explain how this could happen? By the way, the company that issued me a credit card canceled my credit card and will send me a new MasterCard mail, and I’m not responsible for my credit card costs. What can I do in the future that this doesn’t happen anymore? “
I am sorry to hear about the false burden of your credit card, Martine. It is good that your card house resolves this and that you are not responsible for expenses. For the future reference, I will discuss how this could have happened and how to stay safe.
A woman using her credit card for online shopping (Kurt “Cyberguy” Knutsson)
How comes the fraud with a credit card
Credit card fraud can happen in several ways without you often not even aware of it. One of the usual methods is when fraudsters come up with information about your card data injuries In online stores or banks, which means that your data leaks without your knowledge.
Another cunning tactic is PhishingWhere fraudsters on fraud indicate you to provide a card information by presenting yourself as legitimate companies by email or false websites.
There is also a risk of “card scan“where devices on ATMs or gasoline pumps secretly catch your card information when you get it. In some cases fraudsters may also use poor security to public Wi-Fi networks or compromised apps to access your information while buying online.
A man using his credit card to buy on his phone (Kurt “Cyberguy” Knutsson)
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Credit card frauds are too common
This detects the Security.org report 52 million Americans have experienced fraud with a 2023 credit cardThe figure even higher than the one published by FTC. With four of the five adult Americans who own at least one credit card, the report showed that three of the five card owners were facing unauthorized loads – it is estimated that it is 128 million victims. It is even more concerned that 75% of these victims said that their credit card information had been stolen several times.
A typical unauthorized transaction is around $ 100, which is approximately $ 5 billion each year in criminal purchases. Interestingly, most unauthorized transactions include credit cards that are not physically lost or stolen, emphasizing the increasing risk of internet fraud and data injury.
A woman who pays with her credit card (Kurt “Cyberguy” Knutsson)
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Need for protection against identity theft
Data violations are one of the main ways to find a fraud with a credit card. Hackers often become unauthorized Access to sensitive information stored by companies or institutions. When a dealer, financial institution or online store is breach of data, hackers usually attack payments for payment systems in which the Customer Credit Credit Data is kept.
If these systems are not properly secured, hackers can get things like credit card numbers, expiration date, and sometimes even safety codes. Once they get this information, they can use it or sell it to others.
But not just the credit card information is threatened. Data injuries It can also detect personal information such as name, email address and telephone numbers. Deceives can then use these stolen data to launch a phishing attack, pretending that companies are trusting and deceiving you to give you more sensitive information.
What is artificial intelligence (AI)?
Because of this, the monitoring of identity theft is so important. Outstanding companies can monitor personal information such as your social security number, telephone number and email address and warn you if they are sold on a dark web or used to open an account. They can also help you freeze bank accounts and credit card accounts to prevent further unauthorized use by criminals.
One of the best parts of some identity identity protection services are that they have identity stealing insurance up to $ 1 million to cover losses and legal costs And a team to solve fraud in white gloves where the head of the US headquarters in the United States helps you return any losses. See my tips and best choosing how to protect yourself from identity theft.
Illustration of Credit Card fraudster (Kurt “Cyberguy” Knutsson)
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10 Ways to Protect yourself from Credit Card fraud
1. Immediately inform your credit card issuer: If you notice false expenses on your credit card, start by calling the number on the back of your credit card. You should get more detailed information from there about what to do next.
2. Follow your statements regularly: One of the best ways to detect your credit card fraud early is to watch out for your performances. See your transactions regularly to notice any unknown debit. The sooner you notice something suspicious, the faster you will be able to report to your card company and prevent further damage.
3. Check your credit report on a regular basis: In addition to monitoring a credit card derive, occasionally review your credit report to discover all unauthorized accounts open in your name.
4. Use strong, unique passwords: Always use strong, unique passwords for your online accounts, especially those who store payment information. Avoid using data that is easy to guess and consider using a password manager to store and generate safe passwords. This reduces the chances of fraudsters to approach your accounts.
5. Use credit card warnings: Set a warning about transactions with a company that has issued you with your credit card. This way you will receive an email or SMS notification for each transaction made with your card. If you receive a warning to buy you have not done, you can immediately take the measures to report it and prevent further costs.
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6. Be careful with public wi-fi: Avoid buying or intake of sensitive data when you are connected to Public Wi-Fi networks because they are often not safe. If you need to make an online purchase while you are on the move, consider using VPN (virtual private network) to encrypt your connection and protect your credit card data from hackers. For best VPN software, see my professional review of the best VPN’s private web review on your Windows, Mac, Android and iOS devices
7. Do not store credit card information in browsers and websites: Storage your credit card data in browsers or websites can do so practical, but it also exposes you with a higher risk of fraud. If the safety of your browser or website is threatened, the hackers could get access to your saved card data. To be sure, avoid saving your credit card information and manually enter them when you buy each. If the website offers to save your information for future use, think twice before accepting. It is better to take an additional step to enter your information each time to ensure the safety of your information.
8. Use EMV Chip technology: When buying personally, always use a chip reader instead of running the card. Chip technology provides an additional layer of fraud protection.
9. Be careful with attempts to steal identity and have a strong antivirus software: Be careful with unwanted emails, SMS or phone calls seeking your credit card information. Legitimate companies usually do not seek sensitive data through these channels. The best way to protect yourself from malicious links installed by malicious software, potentially approaching your personal information, is to have an antivirus software installed on all your devices. This protection can also warn you of phishing e-mails and fraud with Ransomware, keeping your personal information and digital assets safe. Take my choice of the best antiviral protection winners for 2025. For your Windows, Mac, Android and iOS devices.
10. Keep the card in sight: When using a card in restaurants or stores, try to keep it at your fingertips. This reduces the risk that someone copies your card information.
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Clearly, credit card fraud is widespread than ever and that millions of Americans are affected every year. The good news is that there are effective steps to protect yourself from becoming a victim. By maintaining caution and applying the best practices – such as monitoring your statements and use of strong passwords – you can significantly reduce the risk. Remember, consciousness and proactive measures are your best defense against a credit card fraud.
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