How to Protect Your Debit, or Credit Card from Fraudsters?

Safety Tips from Miraz Securitas

In today’s digital age, where the internet permeates every aspect of our lives, the convenience of online transactions and cashless payments is undeniable. With just a few clicks or taps, we can buy groceries, book flights, or even pay bills without leaving the comfort of our homes.

However, with the rise of digital transactions comes a corresponding increase in the risk of fraud and identity theft. Fraudsters are constantly devising new tactics to steal sensitive information and exploit unsuspecting victims.

From phishing scams to skimming devices, the methods used to perpetrate debit and credit card fraud are diverse and sophisticated. As such, it’s crucial for consumers to be vigilant and take proactive steps to protect their financial assets.

Let’s find out from Miraz Securitas, India’s leading private security company, which shares tips and tricks of protecting your debit and credit cards from fraudsters.

What are Debit and Credit Cards?

While debit cards instantly deduct money from your bank account when used, credit cards let you borrow money to make purchases, with the condition to pay it back later. Debit cards access your own funds, while credit cards give a temporary loan, needing repayment and possibly charging interest.

What are the Types of Fraudulent activities and Ways to Protect your Cards?

Skimming involves covertly installing devices on ATMs, point-of-sale terminals, and fuel pumps. These devices mimic the appearance of a genuine machine. When you swipe your card, they clandestinely capture your data, enabling scammers to create counterfeit cards for fraudulent transactions.

Solution:

• Choose a gas pump close to the store and within the attendant’s line of sight.
• Cover the keypad when entering your PIN at gas stations or ATMs.
• Consider paying inside instead of at the pump to avoid skimming risks.
• Check for signs of tampering at ATMs or point-of-sale terminals, such as loose, damaged, crooked, or scratched components.
• Prefer ATMs located in well-lit, indoor areas, as they are less likely to be targeted by skimmers.
• Use cards with chip technology whenever possible for enhanced security.

Phishing involves deceitful emails or texts aiming to steal your financial info by directing you to fake websites. These sites mimic real banks, tricking you into revealing personal data. Falling for it could lead to unauthorized transactions and compromise your credit and debit cards.

Solution:

• Verify the identity of the sender by checking if you recognize the company or person contacting you.
• Cross-reference the contact information with previous interactions to ensure consistency.
• If unsure, refrain from clicking on any links provided in the message.
• Instead of clicking, independently contact the company through their official channels.
• Confirm the authenticity of the message by calling the company or visiting their website directly.

Hacking is when criminals exploit vulnerabilities to steal sensitive information, such as debit card details, often done through keylogging software on public Wi-Fi networks during online banking or shopping.

Solution:

Secure your cards on public WiFi by using strong passwords, enabling two-factor authentication, and updating security software, operating system,s and browsers on all devices. Avoid entering card details on unsecured sites.

What are Some Other Safety Tips?

You can do the following steps as given below.

1. Monitor account statements regularly and report any unauthorized transactions immediately. Enable transaction alerts for real-time fraud detection.
2. Keep cards secure in a locked drawer or wallet, memorize PINs, and avoid sharing them. Be cautious lending cards.
3. Deactivate online and international transactions when not in use, activating only when needed.
4. Disable NFC (Near Field Communication) when not using the card, and double-check transaction amounts at POS and NFC readers.
5. Always keep your card in sight when making a transaction to prevent the merchant from taking it away for swiping.

These tips from Miraz Securitas equip you with the knowledge to safeguard your debit and credit cards from fraudsters. By staying vigilant and adopting preventive measures, you can protect your financial assets and enjoy peace of mind in your transactions.

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Atul Mahajan

Mr. Atul Mahajan is a visionary leader, an accomplished entrepreneur & an eminent spokesperson on matters related to sharing insight on the Indian security industry, strengthening the security of Indian corporates, schools, & colleges providing trained workforce for COVID-19 protection parameters.

Under the successful leadership of Mr. Mahajan, Miraz Securitas Pvt Ltd today has achieved an over 100% growth rate within half a decade time. His vision for upgrading private security service has helped Miraz Securitas established a footprint PAN India. Today Miraz ,a trusted name has clients , across all market segments such as top universities, private & international schools, prestigious institutions of government of India, retail establishment, & more.

In the year 2017, Miraz Securitas won the prestigious ‘MSE 4’ ratings by global rating & research organization – CRISIL & India’s Public Sector unit NSIC for accomplishing high-performance capability & above-average creditworthiness among other Indian companies.

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