HANSCOM AIR FORCE BASE, Mass. –From traditional theft to illegal devices placed on ATMs to steal card information, thieves have crafted numerous tactics to unlawfully obtain information from cardholders.
Credit card theft can impact anyone at any time, and officials say that consumers could see up to $12.5 billion in losses due to fraud by 2025.
Below are examples of how thieves can gain access to sensitive information and ways to prevent it.
Thieves can gain access by:
- “Skimming” credit card information using self-made scanners at gas pumps and ATMs
- Stealing cards or finding lost cards
- Calling about fake prizes and awards
- Stealing mail
- Phishing attempts
- Misappropriation by stealing card information and making purchases that don’t require a physical card, such as online purchases
Fortunately, there are preventive steps that personnel can take to safeguard personal information and money.
Safeguarding Tips:
- Set up alerts. Most card issuers have an option to use alerts such as, “alert me anytime there is a transaction without my card present”
- Avoid entering sensitive information on public computers and Wi-Fi. When necessary, use a VPN connection
- If using a smart phone as a mobile wallet, protect it as such
- Don’t allow websites to save your card information
- Check your account frequently to be aware of suspicious activity
- Always use a chip reader when available
- Review credit reports regularly
If you believe you are a victim of theft or fraud:
- Dispute unauthorized transactions
- Report the incident to law enforcement
- Consider placing a fraud alert on your credit file
- Obtain a copy of your credit report. The three major credit bureaus provide a free annual report.
- Consider placing a security freeze on your credit report
- File a complaint with, or report the situation to the Federal Trade Commission and attorney general’s office
- Close affected accounts
Being a victim of credit card fraud can be extremely stressful, but practicing the tips provided above can mitigate the risk.