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How Do You Protect Your Card Against Online Fraud?

In a world increasingly based on technology and especially the internet, none of us are secure in the virtual world of the internet. Internet fraud has become in recent years the field of action of organized crime and the model of hacker acting alone is no longer applied to the current reality. In fighting internet fraud, being smart is not sufficient to protect yourself against scams. On the contrary, very educated people are targeted by hackers. With almost two billion users, the Internet has become increasingly accessible to anyone.


Is your card in the 3D Secure System?

Credit cards can be more easily compromised during the holiday season, when the number of transactions increases. To protect their payment instruments, the first and most important thing a cardholder should do before processing any transaction on the Internet, is to register his card in the 3D Secure system. You also need to check if the merchant’s website is also secure. It is important that both parties – merchant and cardholder – are enrolled in the system, so that they allow trading in 3D Secure. Card users can simply record on the website of the issuing financial

With 3D Secure the risks of fraud are reduced, because the cardholder is prompted for a password known only by him every time he makes an online transaction. Basically, 3D Secure password works in the virtual environment the same way a PIN numbers works for an ATM.

How to protect yourself against unauthorized card use

Besides 3D Secure, here are some other useful recommendations for cardholders to avoid unauthorized use:

1.      Verify if the merchant’s site is secure: web address should be in the form https instead of http

2.      Check the contact details of the trader and seek references

3.      Do not take into account e-mails that directs you to sites where personal information is requested about the bank account, PIN, card number, 3D Secure password

4.      Use a secure internet connection: the free VPN for Mac encrypts data sent and received over the Internet and protects your personal data, including credit card information, passwords, downloads and instant messages. When you run it, no hackers can intercept or spy your internet activities

5.      Save the details of the transaction and keep documents / messages on the delivery date, warranty and provider data

6.      Periodically verify your account; use an online banking account that will give you full access to your credit card information. It’s a good idea to check the financial status of your card all the time.

7.      Use strong passwords: password1 is never ever a good idea. No more name + date of birth passwords, because they can easily be cracked.

The best-known types of online fraud attempts

The most common attempts of fraud in the online environment are phishing. Usually, offenders sending e-mails that appear to come from a financial institution. Under the pretext of updating personal date, stating a risk of fraud, cardholders are directed to a cloned website and asked to enter personal data: credit card number, account number, full name of the cardholder.

In this case prevention is the best method: cardholders must never act on such requests, because no real institution will ever request personal data of customers by mail. Some of the most exposed segments to online fraud are usually travel, telecom, services and IT&C.

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