Card fraud countermeasures reduced this type of financial fraud but the statistics reveal that scams involving payment cards remain a serious problem. Fraudsters are coming up with new methods every day and between 2012 and 2013, there has been nearly a 15 percent increase of card frauds.
CardWatch is here to help you reduce the risk of becoming a victim of card frauds by providing useful information about the problem, and practical tips on increasing your card security and card fraud prevention.
In order to reduce the risk of becoming a victim of card frauds, it is highly important to know what kind of methods the fraudsters are using to obtain card details. It is difficult to keep step with their "ingenuity" and as soon as card issuers and governmental bodies develop countermeasures to tackle card fraud, they develop new methods to obtain sensitive information. Nevertheless, it is a lot easier to prevent card fraud if you know the most common types of card fraud and how to avoid them.
The more you know about card frauds the less likely you are to become a victim of the fraudsters. It is impossible to achieve 100% card security but by using and handling your payment cards responsibly, you will make it extremely difficult for the criminals to obtain your card details.
Online shopping is convenient, time-saving and often also a lot less expensive than the traditional brick and mortar shopping. Unfortunately, online shopping is also a lot more risky from the aspect of card security. But it doesn't have any less safe than the traditional shopping if you follow a few simple "rules".
According to the card fraud reports, most of them occur within the UK rather than abroad. This, however, doesn't mean you are any safer when travelling overseas. We have therefore prepared a few simple tips to follow when abroad which which help you reduce the risk of card frauds and return home with pleasant memories of your vacation.
Even if you follow all recommended card security measures, it isn't impossible to lose your card or have it stolen. For that reason it is highly important to know what to do in the event of a lost or stolen card and to react immediately.
It is good to know that card issuers, merchants and the authorities are taking concrete measures to prevent card frauds. But in order for card fraud countermeasures to be effective, they need full cooperation of the cardholders who can do the most to prevent the fraudsters from obtaining and abusing their card details, especially sensitive information such as various login passwords, PINs, etc.