Steps to Prevent Credit Card Fraud

From the waiter at your favorite local restaurant to the website at which you love to shop—criminals can use any avenue to secure your credit card information and use it for their own gain. People are called upon countless times to give up their . . . → Read More: Steps to Prevent Credit Card Fraud]]>
by kozumel

Steps to Prevent Credit Card Fraud

Steps to Prevent Credit Card Fraud

From the waiter at your favorite local restaurant to the website at which you love to shop—criminals can use any avenue to secure your credit card information and use it for their own gain. People are called upon countless times to give up their credit card information during everything from purchasing at retail stores to paying the monthly water bill.

Exercise Caution

Thankfully, with the security of the Internet, website transactions are much more secure than ever provided the website has a security certificate. When performing a transaction online, look for current website security certificates and make sure the URL starts with https://. When you are taking calls, verify the phone number at websites that are dedicated to catch fraudsters like Numberinvestigator.com. It is advised to never divulge your credit card information over the phone. Reputable companies know better and they will not ask you for your personal information during a phone call.

Email Phishing

Email phishing scams are very common. Criminals pose as legitimate companies and include realistic looking website logos and URL’s all in an attempt to trick you. Again, a legitimate company will never request your credit card information through email, nor will they ask you to verify your personal information by clicking on a link. Also, never click on a website link unless you are sure it is from the actual company. If the domain does not contain the company name exactly like the actual website, it is an imposter. For example, bankofamerica.com is not the same as bankofamericasite.com. Additionally check the email extension to make sure it isn’t Yahoo, Google or a free provider other than the actual website company address. When in doubt, contact the company first. Don’t take any chances.

Giveaways

Another area to exercise caution is any site promising a giveaway. Often times, these giveaways never materialize and your information can then be sold to the highest bidder. There have been many instances of individuals being told they won a contest to only be drawn into what amounted to a pyramid scheme that turned out to be more than they bargained for.

 

Find More Credit Card Fraud Articles

Due to the preference of the customers the merchants have no other option than to accept online credit card payments . If you have decided to accept online credit card payments as a business merchant its your responsibility to make sure that the information given by the customers are stored . . . → Read More: Problems Of Online Payments- Credit Card Fraud]]> Problems Of Online Payments- Credit Card Fraud

Due to the preference of the customers the merchants have no other option than to accept online credit card payments . If you have decided to accept online credit card payments as a business merchant its your responsibility to make sure that the information given by the customers are stored securely. Recently the rates of credit card frauds are increasing at an alarming rate. Understanding the problems associated with online credit card payments is important for the merchants to smoothly run the business.

When a customer visits your website he or she will browse through the various ranges of products and services. They will select the one that they wish and will add to your shopping cart. By making use of the payments gateways they will provide you with the credit card details for online credit card payments. As a merchant you will get these information and its your sole responsibility to securely store these information. There are a number of hackers who will use the software to get into your record files. If any single case of theft of information is reported you will be responsible to the customers. Moreover you will lose the repetitive sales as well.

To avoid this make sure that you use the perfect software that will provide you with the secure servers. If you accept online credit card payments its also important to regularly update your software and check the security systems systematically. The information given out by the customer while accepting the online credit card payments are transferred a number of times and the chances of them getting into the hands of the unwanted people are more.  The best way to secure these information is to get the SSL certificate and use the method of encryption. Before you decide to accept online credit card payments you must discuss with the credit card processing company regarding the type of software and also the security matters in clear terms.

Another major problem that is very commonly reported is the “card not present” transactions. Many of the online credit card payments hen sent for authorizations will be returned as the card not present. Such kind of fraudulent practices will be indulged by many of the criminals and the ultimate sufferer will be the merchant. They will have to bear any loss related to these kind of transactions. Such kind of the online credit card payments will be taken as chargeback by the merchant provider and is to borne by the merchant. Moreover every time the merchant accept online credit card payments he will be charged a percentage as discount fees. When the goods are rejected by the customers then the payment is to be reversed. This again comes under the category of chargeback which is to be borne by the merchant.

Though there are some problems associated with online credit card payments the benefits that it offers is plenty. There will be real change in the volume of sales and also the number of repetitive customers. You will also gain by impulse buyers and your business will see an upward trend in the market.

Identity theft refers to stealing of identity of someone by the thief. Identity theft can be of many types. In general, identity theft can be referred stealing such a private thing which is very private to some one and has some very private data in . . . → Read More: What Steps Should Be Taken After Credit Card Fraud Has Taken Place?]]> What Steps Should Be Taken After Credit Card Fraud Has Taken Place?

Identity theft refers to stealing of identity of someone by the thief. Identity theft can be of many types. In general, identity theft can be referred stealing such a private thing which is very private to some one and has some very private data in it.

This private data, if wrongly used, can cause loss to that person. These private things can include your mobile phones, credit cards, ATM cards, computer data, hard drives, pen describes and even your face! Surprised? But it is true; cases have been noticed of stealing faces of someone. Criminals undergo plastic surgeries and steal some one’s face. His is perfect stealing of one’s identity. All such cases come under identity theft. Identity theft is usually done for gaining economic profits.

This is some what modern technique of stealing some ones money. When we think of criminals we have thought of someone with shot guns and stealing whatever we have. But as changing times have brought in newer technologies, there have been rise in what are called as sophisticated thieves. They are all around you and keep watching you without you noticing them. Then at right time, they steal your very private data and now that they have obtained your identity, they are free to get profits on your accounts but for them.

How credit card theft causes identity theft?

You should be very careful while dealing with our credit cars at public places. Public places are full of criminals every where. Main thing to remember is that you never notice them. They are watching you all the time and try to steal some moment to know something very personal to you.

Some times it happens that when you are entering your credit card number while paying off your bills, you should take extra care of hiding your secrete pin number from other people. May be someone is watching your pin number entered and then it just the matter for him to steal your card. Stealing card from your pocket is very easy for such criminals.

So now they have your card as well as your secrete number. And they start profiting on your account. You don’t come to know about such frauds until you get credit card bill at the end of the month. There have been cases noted about criminals coming to your home and pretending to be the card provider company executives. They say that your card is not working properly and that you have to replace it. They take away your card for replacement purpose and then it’s easy for them to make money out of it.

Steps to be taken after identity theft credit card fraud

First step to take is that contact the provider company and let them know about the incident taken place. You just have to answer some questions for verification purpose which are very personal and which are known only to you such as your mother or grandmother’s name. Then they block any further transaction from that card. This prevents more losses to happen to you. Important is to launch a compliant with the police department and then help them in carrying further investigations.

Related Credit Card Fraud Articles

In the article that was published last week, we discussed credit card fraud online and the seemingly odd attitude that the police and banking institutions have towards it.

At present the issue simply doesn’t seem to be a focus of attention for the authorities, most probably because it isn’t something that . . . → Read More: Credit Card Fraud Online #2]]>
by skibler

Credit Card Fraud Online #2

In the article that was published last week, we discussed credit card fraud online and the seemingly odd attitude that the police and banking institutions have towards it.

At present the issue simply doesn’t seem to be a focus of attention for the authorities, most probably because it isn’t something that is in the public eye. As long as consumers are protected and small businesses are left to pick up the tab then why should the police stop these people getting away with theft?

Unsurprisingly I don’t feel the same; if someone is using a stolen credit card it is still stelaing whether its from an individual or not, they deserve to be caught. In an attempt to push this issue out further in to the public eye, I have below an e-mail from another local company which I received on the day of publication of my last article.

“I thought I’d just drop you a quick line to let you know how good I thought your article was that was published in the Herald Express on 11 April. We too are an Internet based business and like you we have been targeted and earlier last year heavily stung on a number of transactions totalling approx £2000.

We reported the matter to the relevant banking agencies who discouraged us from wasting our time by reporting the matter to the Police. Having previously been victims of identity theft we were unsurprised, though highly frustrated by this attitude as the Police were not interested in identity theft and so were unlikely to do anything about this type of “hard to solve” fraudulent activity either. With a heavy heart, we as new business owners had to reluctantly carry the loss and adjust to less income than anticipated.

Your article hits the nail right on the head on every level and it wholeheartedly echoes our experience and sentiments. It’s quite amazing that this kind of activity is allowed to go unchecked particularly when compared to the effort that goes into other perhaps less serious issues. It would be wonderful, though perhaps naive to think some sort of robust Police action would be initiated as a result of your own and I’m sure countless others articles, however I won’t be holding my breath!

Phil Edwards, Director

Consumabulbs”

In the past we have actually contacted the police and card companies stating that we have received a transaction which we know is clearly fraudulent going to a residential flat address. We have offered to send the goods and give a time and date when the package will be delivered, so all that is required is for a policeman to shadow the courier, wait for the goods to be signed for, then swoop in and arrest the culprit. The police do this a couple of times, get the cases on the news and suddenly card fraud in this country plummets as fraudsters begin to worry about the fear of prosecution.

Unfortunately we were told that they were simply too busy to bother with cases like this and that card fraud wasn’t an issue for them. Now, some might consider it ironic that today on Radio One I heard about a woman who is to be dragged before the Crown Court because police were ‘tipped off’ that she threw an apple core out of her parked car window. What started out as a £60 fine sent to her home address has now escalated to a £5,000 legal case as the woman, a mother of three, vehemently denies throwing the bio-degradable piece of fruit and wants to clear her name. She understands that if found guilty she could face up to six months in jail.

On one hand you have someone who is stealing tens of thousands of pounds from countless companies and getting away completely scot-free. On the other you have a mother of three who you have been told threw an apple core out of her window so which do you prosecute? It’s got to be the fruit thrower, surely?

Traditional banking is still alive but let’s face it: people want to manage their money without the need of going to the bank all the time. With the help of internet banking, people now have means to access their accounts and . . . → Read More: Recognizing Fraud in Online Banking and the ways to Secure your Account]]>
by Brian E. Ford

Recognizing Fraud in Online Banking and the ways to Secure your Account

Traditional banking is still alive but let’s face it: people want to manage their money without the need of going to the bank all the time. With the help of internet banking, people now have means to access their accounts and manage their resources for paying bills or sending funds to other accounts. In many countries, including India, there is a massive population of people that are already taking advantage of the services offered by the banks with the aid of the internet.

Even if Online Banking is very popular and is highly supported, still, many are scared to do this kind of banking method. The issue is that there are many forms of banking fraud that happen online and thousands of people have already experienced fraud at one point or another. Scams and trickery is present in the web and therefore, there are some risks that are present for any banker. Let us analyze the fraud process and how it happens:

- Fraud comes in a two step procedure. The primary goal of a scammer or an offender is get the banking information of the client.

- When it comes to this process, the offender utilizes different methods. The first one includes a more obvious method. The person looks at a person who is questionably opens up his or her account on a public space. They look at the banking details and personal details of the individual.

- Password fishing or more popularly known as phishing comes in the form of email scams. The offender masks himself or herself as a banking institution and then requires you to send in your personal details as well as password and user name. Banks never ask for passwords so be wary if the email asks for a password.

- Malware is a program that attaches itself into the computer. It can act as if it is a legitimate program but what it does is serving as a gateway in which the person’s personal details are revealed. This is the most common cause of identity theft.

- The offender will utilize the details to get the money and use this to make purchases.

- In order to eliminate these risks, one must protect his or her computer by means of downloading antivirus, anti malware and adware software. There are also security tools that can be used to detect infected email attachments.

- It is necessary to change passwords every now and then. This is a real hassle but if you do not take care of your passwords, it could cause bigger issues.

- Never open your account in public places. That is not a good thing to do at all.

Protecting yourself from identity theft is one of the precautionary measures against credit card fraud. Many thieves are becoming more creative and wiser these days when it comes to stealing credit card information. For instance, a criminal was arrested recently in Miami, Florida for using an advanced hacking technique to break . . . → Read More: Credit Fraud Man Caught?]]>
by andycarvin

Credit Fraud Man Caught?

Protecting yourself from identity theft is one of the precautionary measures against credit card fraud. Many thieves are becoming more creative and wiser these days when it comes to stealing credit card information. For instance, a criminal was arrested recently in Miami, Florida for using an advanced hacking technique to break into a bank’s firewall system and steal credit information. Wire fraud has become an increasing criminal trend, especially with many hoaxes and scams in the Internet. It has also prospered in light of increasing computer database systems which stores consumer information, including their finances. We have heard of instances in which celebrities’ accounts and emails have been hacked into.

Thus, the consumer has to safeguard his finances and be vigilant for any suspicious credit transactions. Be wary of surveys or researchers asking for your credit card information. Nor shoud you be too gullible about email scams, which reports that you have won, but to get the prize, you need to give them your credit information. Any website or person which requires you to pay them through credit card before you receive the actual purchase or prize could be a scam. Verify the company they are affiliated in. If not, report the matter to the proper authorities.

Skimming is the term used when thieves copies the credit card information without the consumers’ or the company behind the piece of plastic’s consent. Once they have printed out the relevant information, they can use your money to make unnecessary purchases. Another method is called “card trapping.” This occurs when consumers use ATM machines, and their card gets stuck inside. Unbeknownst to them, a device wired into the ATM copies the information that is stored on the card. Once the consumer leaves, the thieves can unplug the device and retrieve the data.

Most of us would file away our bank statements without looking into the details of every transaction. This common oversight should be corrected and consumers must be wary of any transactions that they did not remember engaging in. Once you see a dubious one, report the matter to your bank or credit company immediately. Credit monitoring is another way to avoid or prevent credit card fraud. An online credit repair guide will assist you through the process of monitoring your credit limit and finances, and keeping track of each transaction. Online credit repair is a very convenient way of credit monitoring. With the click of the mouse, you can see your weekly transactions flashed on your computer’s monitor screen.

Credit card fraud has become one of the more recent crimes to start to travel up the statistical scale. The reason for this is actually unknown; however speculation has brought many researchers to the conclusion that with both the economy drop and with people’s rather lax attitude to security . . . → Read More: Credit Card Fraud Prevention Techniques]]>
by Thomas Hawk

Credit Card Fraud Prevention Techniques

Credit card fraud has become one of the more recent crimes to start to travel up the statistical scale. The reason for this is actually unknown; however speculation has brought many researchers to the conclusion that with both the economy drop and with people’s rather lax attitude to security many people are simply taking the opportunity. Credit card fraud is especially vulnerable as not all websites ask for a full security check and unfortunately some less honest sites will actually store your details and use them. So how can you avoid this?

As you would expect not all websites you go onto are dishonest and want to steal your details to buy things from well known bidding sites. However, this does not mean that there are not such sites; the bad thing is that any person who is actively looking to steal knows how to use the internet. By this I mean Google.  Google is one of the main aids for fraudulent people as 97% of the searching population in the UK uses it. The sad part is that since any smart webmaster knows how to get their website in the top 10 ranking, making it likely that you will click it.

Now that we know how they go about getting the details for you we can now go into how we can stop them from doing it.

There are several methods of online credit card fraud prevention the first is to use, buy or download software that will stop spyware from stealing the information you use; the second is to use software that communicates with other users and flags bad sites, meaning that you will get a warning screen before entering. The final method that will be looked into is the use of cookies.

Software has greatly advanced over the years in order to try and stay one step ahead of the internet thieves. However, even though they can stop them successfully a surprising number of people have either got no protection or have it and are unable to use it in the correct way. This means they are under a false sense of security. Therefore, the first thing you will need to do is to either get anti spyware software or learn to use it. The added bonus with many spyware systems is that they come with a search safety function. This can either act in a passive manner or it can add a bar to your browser that will then give you alerts to possible threats, thus killing point one and two simultaneously.

The last point which is probably the best thing is to simply turn off your cookies (see options in your browser). However, the problem with doing this is that you will always have to log into forums, chat rooms, Facebook and Myspace as the saved login will be removed. This can get a little bit annoying but as any person who has had their credit card details stolen will tell you it is a small price to pay.

In a way using the internet without protection is like walking around with your credit card, without a signature on the back and with the pin number wrapped around it. All it takes is one bold thief to take everything you’ve saved, so be bold and make sure you take the right precautions.

www.ProtectYourself.tv – Protect Yourself TV releases another episode of their fraud prevention internet TV show. In this episode, host Michael Gier, discusses two topics. One is regarding credit card skimming. Although you may have heard about skimming, there is a lot that you don’t know. You have a 1 in 5 chance of becoming a victim . . . → Read More: GEOtagging & Credit Card Skimming Fraud Prevention]]>

www.ProtectYourself.tv – Protect Yourself TV releases another episode of their fraud prevention internet TV show. In this episode, host Michael Gier, discusses two topics. One is regarding credit card skimming. Although you may have heard about skimming, there is a lot that you don’t know. You have a 1 in 5 chance of becoming a victim and those statistics are going up. Learn what you need to protect yourself. The other topic is regarding GEOtagging. We all take pictures and upload them to the internet; but do you realize that by doing so, you may be giving away your exact location putting you and your children at risk? Learn how to protect yourself by safely uploading pictures.
Video Rating: 0 / 5

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With the new era of online business upon us, it is imperative that anyone using their own merchant account be aware of the dangers of credit card fraud. It’s out there, and it’s rampant. I know from personal experience. Do not ever take it for granted that . . . → Read More: Easy and Fast Credit Card Fraud Solution]]>
by nedrichards

Easy and Fast Credit Card Fraud Solution

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With the new era of online business upon us, it is imperative that anyone using
their own merchant account be aware of the dangers of credit card fraud.
It’s out there, and it’s rampant. I know from personal experience.
Do not ever take it for granted that each order is valid, do your due diligence,
or pay for it in heavy fees incurred by chargebacks from your merchant account
or third party payment processor such as SafePaySolutions, PayPal, etc.

If you’re an online merchant, here are some things you should check, if your orders are sent to you:

1. Go to DexOnline.com and make sure that the phone number matches the person’s name and address.

2. Call 411 if you have to find out, if DexOnline.com doesn’t give you the info. Believe me the
411 charge is a lot cheaper than a chargeback!

3. Most fraudsters have a certain “style” about them. For instance, mine didn’t like to capitalize names, only sometimes. There was a definite pattern.

4. Most fraudsters use free email accounts. And lots of times the email doesn’t seem to “match” the person’s name. For instance, say the person ordering’s name is: Lisa Sorensen and the email is olatbilly@yahoo.com.

5. Many fraudsters use anonymous surfing sites to go to sites and make purchases. Using a service such as MaxMind.com’s service will help you be able to tell when this is happening and also gage the fraud rating of any particular order. You can get 1000 free transaction checks when you first join. I highly
recommend it.

I had one guy charging up thousands of dollars on other people’s cards, to by leads from
my website, just so he could phish (send leading emails to get people’s credit card info)
and get more info to use to by more leads. Crazy, I tellya! He was very persistent and wouldn’t
stop, even admitted to me that he did it. They are very brave! I contacted the person who’s card
he used and by then he had charged up over 00 on their card! If I hadn’t noticed it was fraud,
he could’ve done a lot more damage than that. He had bought from NBC.com, which scares me,
because you think that a huge corporation such as them would have better security than that.
But, the fact is, most merchant accounts do NOT provide ANY type of protection whatsoever.
This guy was even using the three numbers on the back of the people’s cards. How he got those,
we’ll never know.

My biggest piece of advice to everyone is to never, never, ever give out your
credit card information to anyone. I don’t care WHAT the email says happened to your
account, or what they say on the phone. They should know the answers to your security
questions such as your mother’s maiden name or city of birth. Call them on it.
Always call your credit card issuing bank FIRST before believing anything you read
in an email or hear from a phone call. Whatever it is, it can wait that long, believe me.

I hope this info has helped you, feel free to use this article however you choose,
just

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More Credit Card Fraud Articles

If you are looking for tips that you can use to protect your business against credit card fraud, then you have come to the right place. In this article, we provide pointers that can help business owners safeguard their respective enterprises from the illegal . . . → Read More: Tips on How to Protect Your Business Against Credit Card Fraud]]>
by nedrichards

Tips on How to Protect Your Business Against Credit Card Fraud

If you are looking for tips that you can use to protect your business against credit card fraud, then you have come to the right place. In this article, we provide pointers that can help business owners safeguard their respective enterprises from the illegal and fraudulent schemes employed by unscrupulous individuals and organizations.

Three Tips for Businesses with Credit Card Merchant Account

1. Apply for a merchant account only from credible financial institutions. First and foremost, business owners are reminded to sign up for merchant accounts only with legitimate, accredited, and licensed firms. After all, this is the first protective wall that they can establish around their businesses to avoid the financial problems normally associated with fraud.

Aside from opening a merchant account only from reputable agencies, merchants should also resolve to apply for accounts that will suit the needs and financial capabilities of their businesses. In so doing, they can have the assurance that the credit card processing accounts they intend to obtain will definitely work to the advantage of their respective enterprises.

2. Know how to spot fraudulent orders. To do this tip, business owners should be wary of the following:
• exceptionally large orders
• rush orders for large volume of high-priced items
• refusal of the customer to disclose a home or mobile phone number
• orders from foreign countries and territories, and
• orders which reveals mismatched information (for example, the address of the customer does not match the address on the credit card used).

3. Come up with an action plan in case you receive suspicious orders. Now, suppose you receive a suspicious order. Do you need to reject it right away? The answer to this question is no. Instead of rejecting a suspicious order placed by a customer, merchants are encouraged to come up with an action plan that they can follow should they decide to further validate the orders they receive. For instance, they can use the following pointers:
• Contact the customer and ask for complete name, address, ZIP code and phone number;
• Require the customer to enter the three-digit code at the back of his card;
• Use a fraud detection service that automatically blocks suspicious transactions based on the origin of the order and other conditions; and
• Look up the address and phone number of a local consumer using an online directory.

Use the tips we have enumerated above and we guarantee that you can successfully protect your business against credit card fraud.