MINIMISING POSSIBILITY OF CREDIT CARD FRAUD

Fraudulent activity on a card affects everybody — the card-holder, the merchant, the acquirer, as well as the issuer. While it’s not always possible to prevent a credit or charge card fraud from happening, there are a few steps consumers can take to make it difficult for a crook to capture their card numbers.

Today, several banks have policies in place that protect card-holders from losses attributed to credit card fraud. Banks are also implementing technologies for preventing fraud, and these are starting to make impact. However, these cannot make up for lack of consumer awareness.

Consumers should protect their credit cards just as they would cash. They should never let anyone else use their card, immediately sign the back of new credit cards and destroy old, expired cards.