The Many Ways of Fraud­sters

Consumer Voice - - Bfsi -

While theft is the most ob­vi­ous form of credit and charge card fraud, fraud oc­curs in other ways as well. For ex­am­ple, some­one may use your card num­ber (not the card it­self) with­out your per­mis­sion. This may oc­cur in a va­ri­ety of ways: A thief ri­fles through trash to find dis­carded

re­ceipts to use the card num­bers il­le­gally. A dis­hon­est clerk makes an ex­tra im­print from your credit card or charge card for his or her per­sonal use. You re­ceive a post­card or a let­ter ask­ing you to call an out-of-state num­ber to take ad­van­tage of a free trip or a bar­gain-priced travel pack­age. When you call, you are told you must join the travel club first. You are asked for your credit-card num­ber so you can be billed for the mem­ber­ship fee. The catch? New charges con­tinue to be added at ev­ery step and you never get your free or bar­gain-priced va­ca­tion.

Things You Can Do

Sign your new cards as soon as they ar­rive. Carry your cards separately from your wal­let. eep a record of your card num­bers, their ex­pi­ra­tion dates, and the phone num­ber and ad­dress of each com­pany in a se­cure place. Avoid sign­ing a blank re­ceipt, when­ever pos­si­ble. Draw a line through blank spa­ces above the to­tal

when you sign card re­ceipts. Save your card re­ceipts to com­pare with your

billing state­ments. Open billing state­ments promptly and rec­on­cile your card ac­counts each month, just as you would your ac­count. Re­port promptly and in writ­ing any ques­tion­able

charges to the card is­suer. No­tify card com­pa­nies in ad­vance of a change in


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