The world of scams is getting dangerous these days. The convenience of credit card users needs to be replaced to be alert. You receive a call from your bank regarding the credit card offers, understanding its convenience account holders do prefer Credit cards for their today’s expenditure.
Credit cards are easier and they bring more attractive offers than cash, debit cards, or UPI. However, it can’t be denied how risky the safety options of Credit cards are these days. The features like tap-to-pay (Wi-Fi payment) bring along easy ways for scammers to trick and Rob us.
Goa Police arrested 3 criminals in a case of credit card fraud. In this case, police recovered 6 different credit cards and debit cards from various banks.
As Goa is a tourist place many tourists make their payments with credit cards. Credit card fraudster rackets are increasing in such areas which are attractive to tourists. Most of the time these are suspected as an International racket involving major criminals in such credit card fraud.
What are the different types that are used to trick people most recently?
An increasing number of e-commerce websites is a huge development in the Economy, but in some areas, scammers are always trying to make it risky. Unsafe websites, random attractive links SMS can be the most commonly used scams overall. Other than that, there are more types of Credit Card scams through which the Danger of Data exposure warns us.
1. PoS scam.
Point-of-sale (PoS) is a terminal machine installed in most shops, through which Credit card payment is done. The PoS scam is also termed a friendly Fraud. Scammers here hack the device to rob the data. This fraud can involve any employee or the merchant itself. Some Hidden attachments are secretly fixed near the keyboard to seek your transaction Pin.
Precautions– The cardholder has to stay alert to such scams. Watch out for the machine properly before entering the PIN. In such cases, banks have enabled the Tap-to-pay feature where the Wi-Fi transactions have a limit of up to 2000, to protect the users from such kinds of scams, and making use of that can save a lot.
2 . Keystroke logging
Keystroke logging is the mysterious link Fraud. Very common hack by scammers to trap people. In the name of rewards and extra bonuses, the links are designed to attract and trap credit card details. The special fake software takes and records every single key that is pressed by you for the details of your credit card. Sometimes situations of emergency are created.
Precautions– Never click on suspicious links in any case. Connect with the bank for verification. Use and install antivirus and anti-theft software on your device for a sense of security.
3. Application Fraud
Application fraud is a form of fake identity fraud. It includes fraudsters applying for a new account using fake or stolen documents. The primary targets of this kind of scam are financial institutions, public administration, and E-commerce.
Precaution– keep track of all your documents. Make sure you scratch all the details before disposal of unnecessary documents.
4. Theft or loss of the card
The credit card might get misplaced or stolen too.
Credit card service pays you 0% liability if any transaction is done while your card is missing. So it is important to note that the card has to be taken care of.
Precaution( steps to follow ASAP
- Set up a transaction alert immediately to get access to the location of the credit card.
- Immediately block your card using your mobile banking app or by connecting to the credit card issuing bank.
Wrapping up-
Even while you are on vacation precautions have to be taken. Make sure any of your unalert actions discomfort your vacation mood. Stay alert, stay safe!
Very important- whenever you make payment from any other device-if it’s an unknown laptop or computer, Do Not Save Any Details there.
Click on Do Not Save and Log Out.
