Statistics reveal the increasing credit card frauds in the past two years. The credit card frauds have taken a toll in the Mumbai city and have risen by a massive 42 per cent. So, it is to make you aware of the increased chances of credit card fraud if you are the owner of one! Lack of awareness in the masses is creating chaos and has increased the number of such frauds. The card owners are becoming soft targets due to the insecure use of their cards and by this irresponsible behaviour, they seem to throw prey in front of the devil criminals.
There are incidents where the frauds acting as Bank officials stole all the card details while bribing a store worker. Below we are providing the Five different ways in which a fraudster could steal your card details.
Data Theft Through Malicious Apps
The credit card Frauds generally happen online. Using the keystroke technique, the fraudsters trick the credit card owner and digs out all the personal details. They trick you in providing them with personal details.
It happens often that while opening something online on your phone, an unknown file starts getting downloaded. We generally ignore such files considering it useless but, the matter is serious and it could trap you.
The file downloaded is malicious software that keeps the capability to record any activity that the users perform. Now, whenever the credit card is used to make an online payment, the software would send the password and other payment details to the hackers and they attain the complete access to your credit cards.
Fraud Calls As Bank Executive
Numerous such cases have come into the light where the fraudsters make calls to the cardholders and imitate as bank officials. They would make you believe that there are some activities on the credit card and in effect to which the owner should change the details of the card for better security.
They would also ask you to disclose your payment details with a promise to get your credit card upgraded. Once the car owner comes under the influence, they would ask for the sensitive details like the CVV, PINs and OTP for the verification process.
Phishing Emails
Another means through which the fraudulent reaches the personal details and financial information are the phishing emails or messages. These are done through promotional communications and is sent by someone who impersonates as a bank official.
The emails would direct you to provide or change your details through a link provided by them. When the card details are submitted, it becomes convenient for them to use the card as their own.
Credit Card Skimming
This is also known as the point of sale fraud and considered to be the most widely used fraud around the globe. There are data skimming devices (Small electronic equipment) which are used for the reading and copying of the card information at the point of sale.
This makes easy for the fraudsters to get the details of the card as when it is updated with the new information, further which it can be used to create a fake or clone credit card.
Wi-Fi Data Tracking
It is quite a relevant fraud done by the fraudsters as they set up free wifi at the public place sans any password key which lets the victim connect to the network without any key.
Once after the connection gets established, the fraudsters can fetch all the details and data sent through the network.
All the websites, bank portal or even shopping websites surfed through the wifi network lets the scammers obtain all the relevant information of such connection.
Points to be Aware of:
- Never give a credit card to another person for any transaction
- Don’t write PIN on the card itself
- Regularly check your credit card account
- Avoid any link from the Spam mail
- Always opt for a secure operator while transacting online
Apart from such awareness, one can also choose to get fraud liability credit cards from banks, one, for example, is SBI Card PRIME which offers up to 1 lakh fraud liability cover. One must try market option from reputed banks to get complete secure credit card option.
