Credit card fraud is predicted to cause $19 billion in losses to US-based businesses, banks, credit card companies and Web shoppers by 2018. This is an unbelievable 125% growth in losses due to card not present scams and identity theft from the $8 billion losses that were reported in 2014.

The increasing popularity and penetration of mobile payment processing in Canada, Australia, the UK and so on would most likely spawn widespread mobile credit card scams, according to many cybersecurity experts. They also claim that in the next couple of years, more than 50% of the world’s total mobile user population would have been victimized by credit card fraud, identity theft and other online scams.

This alarming growth of credit card scams and identity theft is evidenced by the hundreds of complaints that sites like BigScammers.Com receive from users each week. There were 600 monthly online scam incidents on average reported by American users last year. Now, there are more than 800 monthly online scam cases that were filed by American users during the first half of this year. This is a 30% growth, and credit card fraud make up a significant portion of these monthly online scam reports and complaints.

Well, this means that your chances of being victimized by credit card scams and identity theft also increased this year. With this, here are quick and easy ways to recover your money, just in case you fall for the tactics and schemes of these criminal syndicates:

How to Handle Credit Card Fraud

It’s reassuring for us to know that credit card companies and banks are dedicated in protecting the interests of their customers. They are responsible for the security of our accounts with them, so this means you can contact them as soon as you notice illegitimate transactions in your credit card statements and bank account records. So, don’t forget to regularly check your statements and records for credit card fraud and phony bank account transactions.

Once you contact them, they can guide you in filing a chargeback, a dispute or a reversal. It takes a couple of weeks or so for their investigations to complete, and they’ll usually rule in your favor. This means you’ll be able to recover your money after proving to them that you’re a victim of credit card fraud. They’ll also contact the proper authorities when they learn about your ordeal, which means cyber security agents and government officers will try to track down and catch the criminal syndicates that victimized you.

However, what if you lose money in your credit cards through your e-wallets? Examples of popular e-wallets include PayPal, Skrill, Payza and the like. When you open an account with these e-wallet providers, you can associate your banks, credit and debit cards with your e-wallet accounts. This is so you can deposit and withdraw funds to and from your e-wallets, banks, credit and debit cards.

That’s also why many fraudsters target users of these e-wallets for credit card fraud and online scams. What you should do, aside from regularly reviewing your transaction records in your e-wallet account, is to contact the administrators and official support agents of your e-wallet providers in case you notice suspicious transactions in your records.

They’ll assist you in filing an unauthorized claim or a dispute against the recipients of these illegitimate transactions. They’ll normally rule in your favor, though if they don’t, then you can contact your card issuer or bank in case the lost money was taken from your bank, credit or debit cards associated with your e-wallet accounts.

That’s how you can quickly and easily recover your money when you fall for credit card fraud. Share this with your family and friends, so they’ll also know what to do when they notice suspicious transactions in their bank statements, credit card records and e-wallet history. If you have other tips that can help others to recover money that they lost because of these online scams, then feel free to use the comments box below.

Want to avoid credit card fraud early in the game? You can simply sign up to receive real time email alerts from BigScammers.Com. You’ll be notified of the newest tactics and schemes that are used by these criminal syndicates for their online scams. These instant email notifications are automatically sent by BigScammers.Com whenever users post complaints in this online community against the latest Web crimes today.

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