Last fall I received an apparent email from my webhost. The email said that my payment information was incorrect and requested me to update it. I clicked the link and entered my credit-card number thinking that I must have made a change to my website recently.
When I logged into my account the next morning, there were two large purchases that had not been authorized. I had been phished by a scammer.
It is embarrassing to be a personal finance author who has failed in security. I’m aware that clicking on an email link claiming it was from my bank or credit card lender is a bad idea. Because the email was not specifically financial in nature (and I was thinking of the changes I made to my site the day before), it’s easy to be fooled.
The scammers were not able to get away with their act because I checked my credit card balance every day. It’s best to avoid credit card theft to avoid the mess, which I had to clean up for several months.
How to protect yourself against credit card fraud
Protecting your physical Credit Card
In some ways, stealing your credit or debit card can be the easiest way to scammers to get your money. Scammers can make fraudulent purchases with the card they have in their hands. They know the card number, the expiration date and the security code.
Keep your cards secure. This is the best way to prevent credit card fraud. Carry only the cards you plan to use. If you carry multiple cards, you might not notice that one of them is missing.
A restaurant is another place you may lose your card. It’s easy to forget your card after you pay your bill (especially if your drink is adult). Make it a routine to check that your card is still in the restaurant before you leave.
You should immediately contact your bank if you lose or steal a debit or credit card. You can make it harder for scammers to use your card by locking it down as soon as possible. You should write down the phone number of your bank so that you can contact them immediately if you lose or steal your card.
Recognizing card skimmers
The thieves of credit cards also use high-tech devices to steal your data. Credit card skimmers can be small devices that are placed in a place where a card reader is normally found, like on an ATM or gas pump.
The skimmer captures the magnetic stripe information when you scan your credit card. When a skimmer is placed on an ATM there may also be a small camera to record your PIN. This gives the fraudster all the information they need to gain access to your account.
It’s possible for a card skimmer to be detected in the wild. Skimmers are most commonly found in gas stations and ATMs. These devices are usually larger than the panel and do not sit flush, like a legitimate credit card reader. Look out for scanners that jiggle, move or seem loosely attached. A pin pad that is thicker than usual can also be a red flag. These signs can indicate that a skimmer may be in place.
You should avoid a gas station or an ATM if you see something suspicious. It’s better to be safe than sorry. See also: 18 Surprising ways Your Identity Can be Stolen
How to protect your credit card number at home
You home is another place where thieves may look for sensitive information. You will receive your credit card offers in the mail, as well as the actual cards and statements. Mail theft is a relatively rare crime (it’s actually a federal offense), but it’s important to collect your mail every day and place a hold when you leave town.
You may still be at risk even after you have your paperwork for the card in the house. Credit card scammers will do anything to obtain your credit card information. It’s important to shred all paperwork that contains your credit card information and any other identifying details before throwing it away.
Last but not least, if you want to protect your credit cards in the home, be careful about who you give out information over the phone. Never give out your credit card number over the phone unless you initiated it yourself. Scammers pose as agents of your financial institution, or merchants you frequently visit, to obtain your payment details. You can call the institution directly using their main number to confirm.
Keep your credit cards secure online
Never provide your credit card details via an email that purports to be from a merchant or your financial institution. Scammers can make fake emails and websites appear legitimate. This is why I was a victim of this fraud.
Even with my momentary lapse of judgment when I was asked to provide my payment information by my “webhost,” there were warning signs I could have heeded had I been paying attention.
First, the email address itself. The only thing that you will see in these fake emails is a display name which looks real. If you hover or click the display name you will see the real email address of the person who sent you the message. Illegitimate email addresses are not formatted the same as those of a legitimate company.
The URL I saw when I clicked on the link was another clue that something strange was happening. Secure URLs are required by any legitimate website that requires your financial details to process your payment. Secure URLs begin with https:// rather than http ://), and have a lock icon on the browser bar. You should not enter credit card details if these elements are absent.
Keep yourself safe with these daily practices
You can protect your credit card by making everyday decisions. Using strong passwords, whether for online banking or shopping, you can prevent fraud. Keep your strong passwords secure, i.e. not on a notepad on your laptop. This will help you protect your financial data.
You can ensure that only you are making purchases using your credit cards by regularly reviewing your bank and credit card statements. This daily habit was what made sure that my scammers did not receive the computer they attempted to buy with my credit cards. Because I checked my account daily, I was able stop the fraud before the scammers received the goods.
