As you conduct more business online, credit card fraud is a threat that you have to contend with. The shift to online business transactions saves time from travelling to and from a business establishment, and you can do this while at work or while at home performing other chores. This convenience though comes with the threat from cybercriminals who specialize in identity theft through phishing and other means to obtain your credit card information.

Getting your card number is the first step to online credit card fraud. Cybercriminals accomplish this in a variety of ways that include sophisticated hacking methods to obtain client information from large financial institutions to the seemingly innocuous posts that proliferate in social media sites. While you are not liable for the theft of your credit card information when it is obtained from hacking the database of financial institutions and ecommerce sites, you can be charged for all purchases made using your card, both the legitimate purchases and those from online credit card fraud.

It is difficult to establish how your credit card information falls in the hands of fraudsters. This is particularly true when you are always diligent in observing safe Internet practices when transacting business online to prevent identity theft. It may be easy for you to spot popular phishing tactics such as scam emails and video posts with links found in social media sites, but keep in mind that many cybercriminals are technologically proficient and are quite good in inventing new methods of attack. Unless newer methods of identity theft attacks are reported or unmasked, there is no foolproof protection against online threats.

Protecting yourself against online credit card fraud should include the regular monitoring of your credit card account. Logging in to your account and comparing your latest statement with your own record takes only a few minutes, yet it protects you from further unauthorized transactions when your credit card information has been compromised. Fraudsters do not make large purchases instantly because of the authentication and purchase verification system that card issuers implement to protect account holders. They will most likely use your card for small purchases that will remain unnoticed unless you regularly check your statement. When you spot a purchase that you did not make even if it is only for a few dollars, you have to alert your bank to stop becoming a victim of ongoing credit card fraud.

Because of the increasing incidence of credit card fraud, the simple practice of checking your account statement online regularly, say once a week rather than waiting for your monthly statement can save you from more losses.

Many have fallen victim to online fraud because they are not as safety conscious when using their mobile device for transactions in the Internet. Tablets and smartphones are small computers that are susceptible to malware attacks, so if you store personal information in a mobile device and use it for online transactions, you are opening yourself to mobile fraud that can lead to identity theft.

When you notice an anomalous transaction in your statement, alert your bank immediately and have your card blocked. You may be inconvenienced for the time it takes until you receive a new card, but this is far more preferable that being an ongoing victim of credit card fraud.

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