Credit card holders can use 5 simple ways to make sure that they don’t end up losing money in online or offline fraud.
New Delhi: In the past few years, online frauds are on the rise in India. For instance, a recent Reserve Bank of India (RBI) report pointed out that the number of bank fraud cases increased in the financial year 2020-21, even though the amount involved in the cases came down to half the amount involved in the financial year 2021-22. The report said that the total number of fraud cases in FY22 stood at 9,103, up from 7,359 cases in FY21. Even on the global level, the number of financial frauds is rising, especially the ones related to credit cards. Credit card customers, however, can follow five simple steps to secure their details and prevent fraud and money losses.
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Don’t Use Credit Cards on Dubious Websites
Credit card customers should not enter their details on dubious websites, as they could steal the data. Make sure that the website has an SSL certificate by checking if the URL has ‘https’. Unsecured websites don’t have SSL certificates.
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Keep Credit Card Close To You
Nowadays, it’s important to keep your credit cards closer to you. You also need to be pretty careful about the thefts, especially when you are travelling via public transport. Thieves can use the tap and pay facility of the credit card to buy lower-priced products after stealing your cards.
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Keep a Close Tab on Credit Card Statements
Credit card holders should keep a tab on their credit card statements to look for purchases that they didn’t make. Using the practice, cardholders can also check the unauthorised charges or fines levied by the bank.
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Keep Offline, Online, International Transactions Off
Many credit card issuing companies offer customers a service using which they can turn off offline, online or international transactions. You can use the feature to limit the transactions and make sure you don’t face any losses.
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Use Fraud Protection
Many credit cards come with a fraud protection plan that ensures your money in case of any fraudulent activity. Cardholders can also buy additional insurance to secure their credit card from frauds.
