How To Protect Yourself From Credit Card Fraud

With the increasing dependency on plastic money, credit card frauds can prove to be extremely damaging. Yet, one tends to neglect basic steps to avoid credit card frauds. It is imperative that every individual take necessary steps to avoid the perils of credit card fraud.Modern-age frauds can range from theft of cards, account takeover, and counterfeiting, to email/telephone order (MO/TO frauds) and more. The banking sector has taken multiple steps towards prevention of credit card frauds.  However, consumer education is a key strategy when it comes to avoiding fraud. Here are some simple ways a consumer can self-educate and help avoid credit card fraud.For more information click on this link: https://theomnibuzz.com/how-to-protect-yourself-from-credit-card-fraud/ Keeping the Credit Card SafeThe primary step for credit card fraud prevention is to keep the credit cards in a place which is not easily accessible for others. First, make sure that a new credit card kit/envelope is not tampered with, and sign on the back of the card as soon as you receive it.  Always keep the credit card secured in a small wallet which will make it difficult for snatchers or pickpockets. After every purchase, one must never forget to put the card away as soon as possible because thieves can store a digital imprint of the credit card through snapshots using cell phone cameras. It is also recommended to confirm the possession of the credit card in your wallet from time to time, even if you have not used it in a while.Monitor Credit card transactions onlineStandard Chartered allows you to monitor your credit card transactions via SMS and email alerts and also via Online Banking or SC Mobile. You can get real time alerts that enables tracking of credit card spends.Avoid Paper Trails of your Credit Card NumberThis is another simple step for avoiding credit card fraud. Credit card billing statements usually have the full credit card number printed on them. As a credit card user, one must always remember to shred the statement before dumping it into the bin. Expired and cancelled credit cards should also be shredded.Signing of Blank ReceiptsThe amount on the credit card receipt should be thoroughly verified before signing the bill. In case of a credit card receipt with blank spaces, it is advisable to fill the blank spaces with zero/s (0) or scratch through before putting the signature.

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