Credit card related fraud and scams is one of the biggest problems faced in the online industry today. Scammers have come up with a number of methods to swindle money from unsuspecting users. There have been many cases where people woke up to the horror of finding their bank accounts wiped out. In other instances, credit card users have had to deal with the shock of paying thousands of dollars in credit card bills. On an annual basis, web users and companies all around the world collectively lose millions of dollars due to these fraud and scams. Please read the Big Scammers article below to learn and protect yourself from this type of online fraud.

Phishing scams

These are very common but sometimes can be difficult to spot. Here the scammers carefully create emails to look exactly like communications you would receive from your local bank or credit card company. They would use the same font, company logo and other graphics to make it look like the email was directly sent by the bank. However the email would go on to add that your account has been suspended and it can be reactivated only after your send your log in details for confirmation. Many people, particularly elderly users will fall for this trick since they are not fully aware of the kind of scams that are prevalent on the internet. In the future, if you receive one such email, please make sure to check the email id to see if it was sent by the company. Also no company would ever ask you share your confidential log in details through email. You can also address these fraud and scams issues by reporting the email sender to your local service provider and the bank.

Faulty payment processing

With digital shopping becoming a multi billion dollar industry today, people are often looking to make online purchases since they it is very convenient and people also get hefty discounts. However with new ecommerce sites mushrooming on the web everyday, not all the platforms are known to have the best secured payment processing systems. If the site in which you make purchases does not have the latest encryption, it becomes highly vulnerable to hacking attempts. In such an event, the credit card details of all the users would get leaked which could leave hugely vulnerable to fraud and scams later on.

On the other hand, there are fraudulent websites on the internet as well. While promising to selling or deliver a certain products, these sites have been just set up collect the credit card details of customers. Once you try to make a purchase, they will use your credit card to fund their own lifestyle. To prevent this from happening to you, make sure to make online purchases only from sites that are well reviewed and have all the latest encryption safeguards enforced by the payment industry. These measures will go a long way towards ensuring fraud and scams do not happen again.