Would you know how to protect yourself from credit card theft? Criminals keep finding smarter ways to get hold of people's personal information. In this article, we'll go through five of the most common ways your credit card details can be stolen, along with tips for guarding against each one.
1. Phishing Emails
Phishing emails are among the most common tools thieves use to get credit card information. They usually pretend to come from a source you trust, like your bank or card issuer, and often use urgent wording or made-up threats to get you to click a link or open an attachment. When you do, malicious software hidden in that link or file can reach your personal financial information. The result can be fraudulent charges on your card, money taken from your bank account and a string of other problems. If an email you weren't expecting asks you to click a link or open an attachment, treat it with real caution. It may be a phishing attempt aimed at your credit card details.
2. Spyware
Most people know their card information can be stolen in several ways, including skimming at ATMs or at store checkout terminals. Fewer people realize it can also be taken through spyware. Spyware is malicious software that can end up on a computer without the owner knowing. Once it's there, it can monitor what you do online and capture sensitive data, credit card numbers included. Sometimes it can even take over the computer and make unauthorized purchases with the stolen card details. That's why it pays to understand the risk of spyware and take steps to keep your computer protected from it.
3. Public WiFi Networks
Chances are you connect to public WiFi fairly often. It's handy, and it's frequently free. What many people don't consider is that public WiFi can expose their credit card information. These networks are usually unsecured, so anyone can get on them. If someone intercepts the data traveling over a public network, they may be able to steal your card details. If you're going to use public WiFi, protect your data with a VPN or another security tool. If you don't, you could end up out of pocket.
4. Major Data Breach
A large data breach is another route by which your card information can be stolen. A breach happens when a hacker gets into a company's customer database, whether through weaknesses in its systems, malware or even phishing. With that access, the hacker can take the credit card details of every customer who has an account with the business. That's a serious problem for the company and its customers alike, since it can lead to fraud and identity theft. You can reduce your risk by learning to recognize the warning signs and keeping your software updated.
5. ATM Skimming
ATM skimming is a form of card fraud in which a device is fitted to an ATM to capture card data and PIN codes. Skimmers aren't always easy to see, but a few clues can tell you a machine may have been tampered with. Start by looking for anything that seems out of place, such as a card reader that's loose or damaged. A keypad that feels thicker than normal, or odd bits sticking out near the card slot, can also point to a skimming device. If you think an ATM has been tampered with, don't use it, and report it to the bank or the police right away. Skimming may be fairly low-tech, but the fallout can be serious, so stay alert whenever you use an ATM.
How To Tell If Your Credit Information Has Been Stolen
Keeping an eye on your credit report and credit score is an important way to make sure your personal information is still safe. There are a couple of ways to check. You can go through your credit report looking for activity you didn't authorize, and you can watch your credit score for any sudden shifts. If you think your credit information has been stolen, contact the credit reporting agencies and place a fraud alert. Let your bank or financial institution know as well, so it can take steps to secure your account. Doing this helps limit the damage and get the problem sorted out as fast as possible.
How To Keep Your Credit Card Information Safe
Identity theft is on the rise, which makes protecting your card information more important than ever. A few simple habits go a long way. First, don't keep your card number somewhere insecure, like your email inbox or a notes app on your phone. Second, shop online only on websites you trust. Check for https:// in the address and make sure the site has a valid SSL certificate. Finally, think carefully about who you hand your card number to. When you can, pay in cash or use a mobile payment service such as Apple Pay or Google Pay, which add extra security features. These precautions will help keep your credit card information safe.
