Some fraudsters try to steal your details and create a clone of your Card to make unauthorised transactions
When it comes to making convenient transactions and upgrading your lifestyle, there is perhaps no other product that works as well as a Credit Card. They have especially gained prominence in the era of e-commerce and online purchases shooting up. While there is no question about the clear advantages of using a Credit Card, there are also certain risks that come with its use. The risk increases if you fail to be vigilant as your Credit Card may become susceptible to fraudulent transactions. With the recent uptick in the usage of Credit Cards, cases of fraud have also risen.
While banks take adequate measures to safeguard customers against fraudsters, the responsibility of ensuring safety ultimately lies with the users themselves. Stay aware of the various tricks employed by fraudsters and learn how to avoid falling prey to them in this article.
Common Tricks by Fraudsters
Scam artists keep devising new ways of making unauthorised transactions. However, there are some common tricks they employ to dupe unsuspecting users.
Phishing
This is one of the most common techniques that fraudsters use to obtain a person’s Credit Card details. Typically, they will create a fake website that looks identical to the official website of the Issuing Bank. They will then send an email saying there has been a problem with your Credit Card. Once you click on the link, it takes you to the fake website where you are asked to fill your Credit Card details. You can imagine the financial catastrophe you can suffer once your credentials are in the hands of fraudsters.