1. How does credit card fraud work?
Credit card fraud can take many forms. Here are the most common methods used by fraudsters:
Phishing
The phishing Phishing involves sending fraudulent e-mails or SMS messages posing as banks, e-commerce sites or delivery companies. The aim is to trick the victim into entering their credit card details on a fake website, often very similar to the official one.
Skimming
This technique involves installing a device on a payment terminal or ATM to copy card information. This allows criminals to clone your card to carry out fraudulent transactions.
Hacking merchant sites
Hackers can attack e-commerce sites to steal customers' banking data. This information is then sold on underground forums or used for unauthorized online purchases.
Physical theft
Theft of the physical card remains one of the simplest methods. Once the card has been stolen, the fraudster can attempt to use the PIN code or make online purchases.
Contactless fraud
With the emergence of contactless payments, some fraudsters are using devices to capture card information as they pass close to their target. Although this method is less common, it remains a threat.
2. What should you do if you are a victim of credit card fraud?
If you suspect credit card fraud, it's crucial to act quickly to limit the damage. Here are the steps to follow:
a) Block the card
As soon as you notice suspicious transactions, contact your bank to block your card. Most banks offer 24-hour emergency card suspension services.
b) Report the fraud to your bank
Once the card has been blocked, inform your bank of the fraud. The law protects consumers in most countries, and you may be entitled to a refund.
c) File a complaint
File a complaint with the local authorities. This can be important for future legal action and for obtaining a refund more quickly.
d) Keep an eye on your bank statements
Once you've reported the fraud, keep a close eye on your bank statements to make sure there's no further suspicious activity. Your bank can also monitor your transactions to prevent further fraud.
3. How to spot fraud in the future?
The best defense against credit card fraud is prevention. Here are a few tips to help you avoid becoming a victim:
a) Be careful with e-mails and text messages
Never click on links in unsolicited e-mails or SMS messages, especially if they ask for sensitive information. Always check the sender's address and contact your bank directly if you have any doubts.
b) Use virtual cards
Many banks offer virtual bank cards for online purchases. These single-use cards limit the risks if your card details are stolen.
c) Check payment terminals
Before inserting your card into an ATM or payment terminal, make sure it has not been modified or tampered with. Skimming devices are sometimes visible if you inspect carefully.
d) Activate bank alerts
Most banks allow you to activate real-time notifications for each transaction carried out. This means you can react immediately in the event of fraud.
e) Use two-factor authentication
Some bank cards and e-commerce sites offer two face authentification (2FA) for secure transactions. This system adds an extra layer of security by requiring confirmation via a code sent to your phone.
Credit card fraud is a serious problem, but you can protect yourself by being vigilant and taking preventive measures. By understanding how fraudsters operate and knowing how to react quickly, you can significantly reduce the risk of financial loss. Remember to always monitor your transactions and contact your bank immediately if in doubt. Finally, it's important to check the websites on which you make your online purchases. The product test label Saferbuy is a trusted label that tests products and brands for you. Feel free to refer to our database to check out a site before you buy.