Scammers Are Targeting Your Credit Card: Mistakes That Could Cost You Money and How to Stay Safe
Scammers Are Targeting Your Credit Card: Mistakes That Could Cost You Money and How to Stay Safe
Know the common frauds and how to protect yourself
Credit cards have become a convenient tool in today’s digital economy, widely used for shopping, bill payments, and travel. But this very popularity has also made them a prime target for scammers. Criminals are constantly devising new ways to steal card details and siphon money. Being careless can put your hard-earned money at risk.
Here are the common types of credit card fraud and how to stay safe:
How Credit Card Fraud Happens
- Skimming: Scammers install hidden card readers at ATMs, petrol pumps, or payment counters. Once you swipe your card, the device copies your details and transfers them to fraudsters.
- Phishing: Fraudsters send fake emails, calls, or SMS pretending to be from banks or government authorities. They trick you into sharing sensitive details like PINs or OTPs under the guise of verification or offering a service.
- Data Leaks: Hackers often steal customer databases from large companies. If such data includes card information, it can end up in the wrong hands.
- Card-Not-Present (CNP) Fraud: Here, criminals use stolen details such as card number, CVV, and expiry date to make online purchases—without needing the physical card.
How to Protect Yourself
- Keep details private: Never share your PIN, CVV, or login details, even if the request seems genuine. Banks will never ask for such information.
- Avoid unknown links: Don’t click on suspicious payment links sent via SMS, email, or social media. Always verify the sender before making a payment.
- Use separate cards: Maintain different cards for subscriptions, bill payments, and shopping. This limits exposure if one card is compromised.
- Stay off public Wi-Fi for payments: Avoid making transactions on unsecured public Wi-Fi networks. If unavoidable, always use a secure VPN.
With rising cases of cyber fraud, extra vigilance is the best defense. A few simple precautions can help ensure that your credit card remains a convenience and not a liability.
