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Credit Card Fraud Still a Problem

Credit Card Fraud Still a Problem - The Beacon


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By: Tom

Credit Card Fraud Still a Problem

Over the years, your BBB® has provided warnings regarding credit card scams and security breaches. When the new EMV chip credit and debit cards were introduced, they were to provide greater security for their users.

According to a US News article by Anisha Sekar, the United Kingdom experienced a reduction in credit card fraud of 63% just by switching to the EMV chip. However, in other countries including the US, not all debit/credit cards have been changed to the new EMV chip yet. This brings up the question of how exactly do people secure their credit and debit cards to keep them from being compromised.

The following tips are from the article:

*When making purchases online, use only secure sites which show the lock symbol or the URL begins with ”https” instead of “http.”

*Don’t use a public WiFi connection to the Internet, unless you employ a VPN, virtual private network.”

*Sign the back of your credit/debit card for additional security. An unsigned card may leave you more vulnerable for fraud and your fraud liability charges may be higher.

*Shred credit card statements and other documents that contain sensitive personally identifiable information.

*Use a personal finance service to instantly see which transactions have been made on which card.

To read the entire article, click here.

For more information regarding data breaches and steps on protecting your identity, visit where you can Start With Trust®.

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Tom is Vice President for the Tri-State Better Business Bureau. In addition to answering the needs of our accredited businesses, Tom can be seen on WEVV providing tips for businesses and consumers. He also works closely with other local media outlets to keep our community informed of marketplace issues affecting our area.