Credit Card fraud is a menace which keeps banks and Credit Card issuing companies on their toes. Each day, companies and banks work to make Credit Card transactions safe and secure, but a trail of scammers and hackers are always ready to pounce on any loophole.
In such a scenario, how do you as a Credit Card holder know if your card is safe or has been compromised by some intrusive hacker over the internet?
Here are some tips that will help you know if your card is safe or your card details have been compromised.
1: Check your card statement for any unknown transactions
One of the most obvious things to do is to check your monthly card statement thoroughly. Do not ignore it as an unimportant paper sent by the bank for the sake of protocol. Every little purchase made using your card will be reflected on the statement.
Many users are unaware of clever scammers ripping them off for months by making small purchases that are largely ignored. How, you ask? They don’t bother to check their Credit Card statement and pay whatever is the billed amount.
2: Don’t ignore mobile notifications
Your Credit Card provider sends you a notification on your account-linked mobile number for each purchase that you make using your Credit Card. Do not ignore messages from your bank as unwanted spam as they can be the source to catch any Credit Card fraud instantly.
Many people, especially those working with strict deadlines and in a busy work environment, filter out the messages from their bank. Do not block messages from your bank as they can be a lifesaver in case of card fraud.
3: Keep an eye on third-party retailers
There have been cases where third-party retailers have had their systems breached by hackers. If you have been using a retailer for your purchases, and the retailer’s data has been breached, it can mean that your data has been leaked to the hackers.
While most retailers do not store card information, some still do leaving a loophole for scammers to gain advantage. Stay updated about all the news of any data breach at popular retailers.
Safety tips for online Credit Card payments
- Keep your computer free from virus and Trojans with an updated antivirus.
- Use your Credit Card only with authentic merchants having secure payment gateways.
- Never share your Credit Card information with anyone.
- Shop only on websites that use encryption. An easy way is to see the URL and protocol. Prefer sites with https instead of http.
- Do not share your Credit Card with anyone.
What to do if you fear your card has been hacked?
If you ever feel your Credit Card has been hacked or compromised:
- Call your bank’s customer care helpline immediately and request them to block your card.
- File a police FIR at the nearest police station if money is lost
- File a complaint with the bank and request for a full waiver.
- Check the possible reasons for the fraud and plug in the loopholes
As a Credit Card holder, the responsibility of keeping your card safe lies with you. Follow the above tips to keep your Credit Card safe and away from hackers and scammers.