Fraud Online - Preventing And Managing
"Online credit card fraud is a term used for the theft and illegal use of credit cards
. This is a rampant case all around the world today. The US Government lost $315 billion dollars 15 years ago due to card theft alone. Nearly 22 million consumers were victims of credit card fraud by 2006.Phishing - This is a widely used method by criminals. This is the distribution of fake emails by the criminal through the Internet. The email would usually let the victim fill-up a form with his personal details, including the name and PIN number of the credit card. In this manner, the criminal gets the information and uses it to purchase goods or any items.
Pharming - It was only just recently when this method was discovered. Among the three, this is the most dangerous. This involves the tampering the domain name resolution process on the Internet. By hijacking or corrupting a Domain Name System (DNS), a user types the URL of a website he wants to visit without the knowledge that he will be redirected to a fake site. The user, unaware of the conditions, may just type in his bank account or card details making them a victim of Pharming.
Skimming - This involves the use of a device to copy the encoding data of a credit card. The device is inserted in the ATM and used as a card reader. This process is not so common these days anymore.
Actions - If you suspect that you have been a victim of a credit card fraud or theft, it is very important that you take actions as soon as possible. The very first thing you need to do if your card has been stolen or is lost is to go to your card issuer and report what happened.
After you have reported the incident, if no result has been given to you by the credit card issuer it would be better if you would follow up the case through phone calls and letters. If you are to send the letter, it should contain the details of your case like the date the card went missing, the date you reported it as lost or fraud and other details about your card.
To avoid being victimized of this rising fraud which is common in the internet, you should be familiar with the different tactics that scammers and thefts use to gain access to your credit cards.
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