Online Credit Card Fraud and Actions to Take

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The illegal use of credit cards is considered an online fraud. It is a very rampant case all around the world today. The US Government lost $315 billion dollars 15 years ago due to card theft alone. And in the year 2006, nearly 22 million consumers fell victim to credit card fraud.

The term Phishing refers to the distribution of fake emails by the criminal through the Internet. The email would usually let the victim fill-up a form with his personal details, including the name and PIN number of the credit card. In this manner, the criminal gets the information and uses it to purchase goods or any items. Criminals are fond of using this method.

Pharming was only just recently when this method was discovered. This is one of the most dangerous among the three. This involves the tampering the domain name resolution process on the Internet. By hijacking or corrupting a Domain Name System (DNS), a user types the URL of a website he wants to visit without the knowledge that he will be redirected to a fake site. Unaware with what is happening, the user may just type in his bank account or card details making them a victim of Pharming.

Skimming is another process which involves using a device to copy the encoding data of a credit card. The device is usually inserted to an ATM machine and used as a card reader. This process is not so common these days anymore.

If you suspect that you have been a victim of a credit card fraud or theft, it is very important that you take actions as soon as possible. Report what just happened. Being able to know the different tactics that scammers and thefts use to gain access to your credit cards is very important for you to be able to avoid from becoming a victim of this rising fraud often common in the internet.

If no result has been given to you after you have reported it to your credit card issuer, it would be better if you would follow up the case through phone calls and letters. When you decide to send a letter, it should contain the details of your case such as date the card went missing, the date you reported it as lost or fraud and other details about your card.

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