Credit and debit cards have become indispensable to modern commerce. However, because fraudsters are continually devising new ways to try to steal card details, cardholders need to take steps to reduce their risk of being defrauded.
Phishing is when fraudsters pretending to be from well-known companies, organizations, or government agencies contact consumers and try to trick them into revealing their personal information. That information is then used to commit fraud like opening new accounts in your name or taking over existing accounts like online banking or iTunes. It can happen over the phone, on email or even through text messages.
TIPS FOR PREVENTING ONLINE CARD FRAUD
1. Be wary of expedited shipping when billing and shipping addresses differ.
2. Make sure IP location and credit card address match up.
3. Watch out for suspicious email accounts.
4. Do some research on that suspect address.
5. Keep a log of credit card numbers.
6. Consider using a fraud profiling service.
7. Restrict the number of declined transactions.
8. Always require the Security Code.
9. Ship your orders using tracking numbers and require signatures.
10. Strengthen your website security measures.
11. Be on your toes. Only open emails, attachments, and links from people you know.
12. Don’t believe what you see. It’s easy to steal the colors, logos and header of an established organization and make emails appear legitimate.
13. Avoid sharing. Don’t reveal personal or financial information in an email, text or over the phone.
14. Pay attention to a website’s URL. Hover over any links to see where they lead.
Src : europol, smallbiztrends