What is credit card fraud?
Credit card fraud is when somebody uses your credit card without your authorization. This could happen in many ways:
* When your card has been stolen
* If your card was swiped twice for the same amount
* If your card was used by Internet hackers
* If your card was used without your knowledge by your children/ spouse/ friends who have access to you purse or handbag
One of the easiest ways to prevent such fraud – or at least keep it to a minimum – is to have the provider send you SMS alerts on your cell phone every time your card is charged.
This has two benefits :
(1) it keeps a close tab on your balance available, and
(2) it will alert you whenever your card is used.
In case you find that your card has been used without authorization, you can immediately alert your bank and the police regarding the credit card fraud in progress. It’s possible to track the transactions made on the card, and the culprit can be nabbed and brought to justice.
