The Christmas season may be a traditional time of generosity and giving, but don’t think thieves and fraudsters take time off this time of year, especially with credit cards flashing about everywhere you look. This week it came to the Money Maven’s attention just how easy it is for your account to be hacked, which could lead to potential Christmas-ruining disaster! Found out how to keep your account in check.
by Anna McDougall, The Money Maven
A friend of the Money Maven’s revealed her credit card had experienced $3000 in attempted transactions (all online) over the past week, including a $1500 transaction attempt for computer and electrical goods (high on many Christmas wish lists, no doubt!). Sharing the news on social media, she received a barrage of comments from those who had experienced similar credit card fraud.
To avoid the traps, especially if you’re holidaying this summer, keep an eye out for these places where revealing your credit card details could result in disaster!
Non-Secure Online Payment
If your an online shopping addict, you should be able to tell whether your favourite e-commerce sites have a thoroughly secure online payment system. Warning bells should sound if you come to pay and there isn’t a secure check-out page.
Non Bank ATMs
Thieves and fraudsters are more likely to hack non-bank ATM’s due to the encryption not being as secure as bank ATM’s. In some cases these ATM’s are merely card-skimming devices aimed at stealing your credit card or debit card information.
Suspect Swipe Terminals
If there’s something that looks suspicious at an ATM or a petrol pump credit card swipe terminal think twice about using it. More often than not, those types of add-ons are put there by criminals so they can steal your credit card
Wi-Fi Hotspots and Internet Cafe’s
If you’re going to be making online transactions over an unsecured wireless connection like in cafes, parks and other hot spots, or in libraries data can be compromised or seen while in transit, even if you’re on a secure page while you’re checking out. Be very careful is you transmit personal data when you’re in a public connection environment, especially on non-secure wireless – we don’t recommend it!
Markets
Markets can be a tricky one, due to the transient nature of the vendor. That doesn’t mean those vendors are fraudulent or corrupt, but it makes the transaction less secure. The credit card company might have trouble doing a charge back. Take cash!
Small Shops
These smaller merchants have a significantly higher percentage of credit card fraud as reported by large banks and credit card companies. Many of these transactions end up being written off by the banks because the merchants simply can’t be located. Again, try and use cash!
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