What is Credit Card Fraud?
Credit card fraud is when someone takes your credit card and account numbers to make unauthorised charges.
Credit cards are a great opportunity for criminals to exploit security flaws in credit cards or use Social Engineering attacks to trick you into giving away your credit card, money, or card [ *].
How can fraudsters get their victims to give up their credit card numbers?
Credit card frauds can range from sophisticated schemes such as keylogging software or card skimmers at gas stations to more basic approaches such as shoulder surfing.
The goal of the scam is the same regardless of the type: to steal your credit card information and enough Personal Identifiable Info (PII), such as addresses, mobile numbers, social security numbers (SSNs), etc., to get access to your credit cards and drain your accounts.
Credit Card Fraud: What do you do if you have already paid money to a Scammer?
1. Call the bank or company that issued your debit or credit card. Inform them that the transaction was fraudulent. You should ask them to cancel the transaction and get your money back.
2. Call the bank or company that issued your debit or credit card. Inform them that the transaction was fraudulent. You should ask them to cancel the transaction and get your money back.
3. Contact the company that issued the gift card. Tell them the gift card was fraudulent, and ask for a refund. Keep the gift certificate as well as the receipt.
4. Get in touch with the wire transfer company. Inform the company that they were fraudulent. Request them to reverse the wire transfer and give you your money back you can read more About new scam website list on the makerdepot.
- MoneyGram 1-800-926-9400
- Western Union at 1-800-448-1492
- Ria (non Walmart Transfers): 1-877-443-1399
- Ria (Walmart2Walmart, Walmart2World transfers),: 1-855 355-2144
5. Report the fraud to your bank. Your bank should reverse the wire transfer to get your money back.
6. The company that created the money transfer application should be notified. They should ask to cancel the transaction. If the app was connected to a debit/credit card, you should report the fraud to your bank. Ask them to reverse it.
7. Most cryptocurrency payments cannot be reversed. Once you have made a payment with cryptocurrency, it is impossible to get your money back. You can only get your money back from the person who sent it. To inform the company who sent it, contact them. Ask them to cancel the transaction if possible.
Contact the U.S. If you have sent money via U.S. Mail, please contact the Postal Inspection Service. The U.S. To have your package intercepted, contact the U.S. Postal Inspection Service at (877)876-2455. Visit The Basics to learn more about the USPS Package Intercept procedure.
If you’re not satisfied with their service, contact another delivery company.
If you have given personal information to a fraudster
1.Identity.Theft.gov will tell you what to do and how to monitor your credit.
2. Create a strong password. If you have already used the password elsewhere, change it.
Measures you can take in-case scammer have access to your device
1.Keep your computer up-to-date Computer security software Run a scan and then delete any problem it finds. Next, take the next steps. Protect your personal information .
2.To regain control of your phone number, contact your service provider. Once you do, change your account password.
3.You should also check your bank and credit cards for any unauthorised charges. Report any suspicious charges or changes to the institution. To learn more, visit IdentityTheft.gov.
FBI Guidelines to Prevent Credit Card Fraud
To help consumers avoid credit card fraud, the Federal Bureau of Investigation provides some guidelines. These include:
- If you don’t recognize the site as secure, don’t give your credit card number online.
- Verify the reputation of merchants that you deal with.
- Use resources like the Better Business Bureau (and customer reviews online) to verify merchants.
- A flashy website does not necessarily mean that a business is legitimate.
- Be wary of unsolicited email offers such as investment opportunities (for example, the infamous ‘foreign prince scams), which could be phishing attempts.
- Avoid transactions with foreign individuals or businesses.
Under what circumstances can you request a chargeback?
There are many situations where you can request a chargeback.
- Unauthorised charges or fraud on your account: You don’t recognize a transaction, but suspect that it was fraudulent.
- Packages not delivered: You may be notified that an item has been delivered but it wasn’t.
- Defective or damaged items: If an item was opened or is missing parts.
- Incorrect charges in your account: The item you purchased had a different cost than what you actually paid (most often this happens at local businesses that manually enter prices).
Remember that many credit card issuers offer $0 liability for unauthorised charges. If you have the citi(r) Double cash Card or Chase Freedom (r), there is no liability for unauthorised charges.
Report a scam or fraud to the FTC
Information you provide can be used by the FTC to spot trends, create cases against scammers, and educate the public about what’s happening in your locality. Report a scam to FTC ReportFraud.ftc.gov.
To see the latest happenings in your state or area, visit ftc.gov/exploredata
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Digitalization is the future, as we all know. Bank account frauds are increasing in this age of digital transactions. Illegal transactions are common. This can also be called cyber fraud, online crime, or digital fraud.
Hackers have the ability to access your account information and steal money from it. People are prone to remain silent even after suffering a loss. You can still get all of your money back in these cases.
Scammers can appear very convincing. To get our money or sensitive information such as bank account numbers and Social Security numbers, they will call, email, or send text messages. They are skilled at what they do.
Here are some tips to help you identify if someone is a fraudster. If you have already paid a fraudster, your money could be gone. It doesn’t really matter how much you paid. Ask the company that sent you the money if there is a way to get it back.
Scamming can have a devastating effect on your mental health. Talking to someone about your feelings can be helpful. You don’t have to feel guilty. There are many non-judgemental help lines that you can call that will be able to understand and help you meanwhile.