| Globally credit card fraud costs card issuers billions | | | | currently popular with card issuers:* identification |
| of dollars a year in fraudulent use of their cards. | | | | photos: where your picture is shown on the front |
| Some of this loss is passed back to retailers who | | | | of the card* fingerprinting: where a facsimile of |
| failed to comply with the normal processing | | | | your fingerprint is shown on the reverse of your |
| method for the card. Another part of the loss is | | | | card;* chip and Pin systems: where the card has |
| insured. Nonetheless, as a cardholder you are | | | | an encrypted chip containing details about the card |
| potentially liable for any fraudulent use of your | | | | and a PIN that ensures the card is a genuine issue. |
| credit card. It is, therefore, imperative that you | | | | Essentially the chip contains the same information |
| make yourself aware of what the current fraud | | | | that used to be contained in the magnetic strip on |
| scams are and how you can help to in the battle | | | | the reverse of the card, but in chip format it is |
| of credit card fraud prevention.To this end, the | | | | believed to be harder to copy.Although each of |
| following are some fraud prevention methods you | | | | these systems is no foolproof credit card fraud |
| can adopt:* when using your card, never card out | | | | prevention method, with credit card fraud costing |
| of your sight* if you use the card in an old | | | | more and more each year, you can bet that |
| carbon-copy paper machine, keep the | | | | issuers are going to be tackling this issue head-on: |
| carbon-copy and destroy it later* never use your | | | | so stay aware of the latest credit card fraud |
| credit card on an unsecured website* never use | | | | preventions methods and help combat this |
| your credit card to withdraw money in an | | | | growing problem.Joseph Kenny writes for the |
| ATMAside from the above, ensuring that you use | | | | Loans Store and offer more information on |
| certain technological advances with your credit | | | | personal loans and other loan topics available on |
| card should also help in any credit card fraud | | | | site. |
| prevention. In this regard, the following are | | | | |