The content is accurate at the time of publication and is subject to change.

You can`t altogether stop credit card fraud but you can take preventative measures so that it doesn`t happen to you again. At the shop level, if you ask your customers for their proof of identity, honest customers will not deny you that. However, if you`re shopping online, you would have to take a different set of measures to prevent credit card fraud.

Here are some steps you might like to employ to be safe from credit card fraud:

Ask for proof of identity

If you have a brick and mortar shop, ask the customer for proof of his identity like a photo ID and compare it with the person who gave it to you. Scan the card and check if there are any alerts on your customer`s name in the bank identification database of numbers.

For online transactions, optimize your site for security reasons

Check that the card you`ve been given has a legitimate number. You can check this by the card verification number at the back of the card and ask a series of security questions to establish the customer`s integrity.

Use only those sites that you trust

Since phishing is common these days, one way of keeping away from this kind of card fraud is to not enter your card details and personal information whenever they are asked for. You should guard your card details with your life and don`t part with them to companies you have never interacted with or met, let alone trust.

Don`t trust your bank with your card security details

Banks are constantly upgrading their software to make them absolutely virus-proof in order to foil the attempts of all hackers and online fraudsters. On the other side, most credit card fraud is said to take place at the level of home computers that do not run anti-virus software. You can keep your home PC or laptop virus-resistant by installing relevant software that can prevent the invasion of viruses you`re your computer and allow you to enjoy safe and peaceful online transactions.

Don`t use a public computer to make an online transaction

Though online transactions are increasing day by day, so are the numbers of online frauds. To counteract this, don`t use public computers such as those at Internet cafés as other users can always tamper with your details.

Use safe financial services to make payments

When buying online, use renowned services such as PayPal where you don`t have to enter your financial details each time you make a purchase.

tags : Credit Cards Fraud Security Payment Technologies

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.