Lots Of Little Credit Charges Add Up To One Big Scam
Would you notice an unexpected charge of $10 or less on your credit card statement? Lots of consumers don't — and scammers count on that, says Steve Barnas, president and CEO of the Better Business Bureau in northern Illinois.
How To Protect Yourself
Data thieves are becoming more sophisticated, making it more difficult for law enforcement to investigate and combat scams. But there are some things you can do to help prevent fraudulent use of your credit card. Here are some useful tips:
Don't share your account number with anyone over the phone unless you initiated the call and you know the company is reputable.
Do your homework before sharing account information with an unfamiliar business or website. The FBI has some detailed suggestions for conducting due diligence. Also search online for any reviews, complaints or alerts.
Don't provide your account information or personal data in response to any unsolicited email, Facebook messages or tweets from financial institutions. Use the phone number on your card to contact the institution directly to verify any unexpected contact.
Be aware of your surroundings when reading your credit card aloud over the phone. Anyone can take down your information and use your card fraudulently.
Look for skimming devices or other signs of tampering, like glue, loose components or scuff marks, before using an ATM, particularly one in low-traffic areas.
Don't access online banking sites on public Wi-Fi networks, which are vulnerable to hackers.
Carry your credit cards and wallet separately. Carry only the card you need for a particular occasion.
Keep your credit card in sight during a transaction and always double-check that it was returned before leaving.
Don't sign blank receipts; scammers can fill in false totals. Draw a line though any blank spaces above the receipt's "total" field.
Review your statements promptly. Compare them against receipts (save them!) and electronic transaction confirmations.
Report any questionable charges to the card issuer immediately.
Notify your card issuer before you travel or if you have a change of address.
Sign up for transaction or fraud alerts offered by your financial institution.
Sources: FBI, Federal Trade Commission, Bankrate.com, Discovernetwork.com