There are many people around the world that have been victims of credit card frauds. It is so pathetic some people fall into this trap due to lack of ignorance. In this article , I want to take the pain of explaining some of the frauds that can be carried out on your card so that you can defend yourself against the next one.
#1 Credit card mail order fraud
In this type of fraud, the credit card stealer will try and get all the information about the card through any means. He or she will now send a request for a new to his bank. If he succeeds, he or she can now have access to the money in the account.
#2 Skimming or counterfeit credit card
This happens when the hacker electronically copy the information on the stripe of a card without the knowledge of the card holder. That is one reason why you should never give your card to anyone to hold.
#3 Chargeback fraud
This offence can be committed by the cardholder himself. It happens when the holder used his card to purchase goods or services online and now call the bank to deny that he ever authorize such transaction.
#4 Lost or stolen card
This is very common in Nigeria. It happens when a card is lost or stolen and the theif or the founder went ahead to withdraw all the money inside the account. Dear friends, when you noticed you cannot find your card, the first thing is to contact your bank to block your card before thinking of replacement. NO bank will ever ask you to pay for that.
It is also strongly advised that you should have the contact number of your bank. The problem with banks in Nigeria is that their call centres are not toll free.
#5 Card Not Present (CNP) Fraud
In this type of credit card fraud, the culprit obtains the credit card information by fraud and then use it purchase products online. There is a way that you can prevent yourself from this. Never write you credit card password to anyone. You should not also disclose your credit card information to anyone on phone. It is not even logical for you to disclose your pin to anyone inside the banking hall.
#6 Cash Machine Fraud
This is done when the offender tampers with the cash machine and then trick the offender to enter his password in his presence . You should never fall for this kind of trick.
#7 Shoulder surfing
This happens when the hacker look over your shoulder while you are typing your pin. You have to be sure that no one is looking over your shoulder while you are typing your password or enter other criteria for your cards.
#8 Identity theft
This happens when the hacker fraudulently obtain information of a credit card holder in order to access such credit card account. You still have to be sure that you do not write such information anywhere or give such information to a hacker or friend.