How to protect yourself from credit card fraud
With bank card usage on the rise, credit and debit card fraud has surged and is taking more sophisticated forms. If you lose your card or it gets stolen, your card number and expiration date can be used to make unauthorised purchases in-store and online.
But, nowadays, scammers don’t have to brush against you in the street or stand behind you in a queue to steal your card. They’re finding new ways to violate your privacy and take your money, which is why protecting your card from fraud is more important than ever. And luckily for you, we have several tips that will help you avoid becoming a victim of fraud.
Don’t share your card information
One of the most common tricks among scammers is impersonating banks. They may call you, send you messages on social media platforms, or even email you claiming to be bank employees to get your card information.
Know that your bank will never ask for your card information, your account details, or any personal or financial information through a phone call, an SMS, or a message on social media. If you get a call from someone claiming to represent your bank, say you’ll call them back and check with your bank first. Similarly, don’t reply to someone on social media claiming to work for your bank because, odds are, they don’t!
Report the loss or theft of your card immediately
If you’ve lost your card, call your bank immediately so they can freeze it to make sure no one uses it. If you’re a Bank al Etihad customer, you can freeze your card from our mobile banking app.
Choose a strong password
It’s best to avoid easy-to-guess passwords for your digital banking channels like your name, date of birth, or even any of your children’s names and birthdates or phone numbers. Instead, create one that’s made up of a mix of numbers, uppercase and lowercase letters, and symbols. The longer and more complex the password, the more difficult it will be for others to guess.
Also, use different passwords for your accounts. This way, if one gets hacked, the likelihood of your other accounts getting hacked will be low.
Be careful when shopping online
When shopping online, ensure that you verified your card*, and think twice before making a purchase. Ensure the website is safe and secure by checking it has “HTTPS” and a padlock icon in the address bar and that it’s verified by Visa. Moreover, prevent websites from saving your card information. This way, if a site gets hacked, hackers won’t be able to obtain your card information.
Before shopping online, it’s also a good idea to set your spending limit by adjusting the “Internet Daily Limit” on our mobile banking app. So that if someone gets a hold of your card information, they can’t drain your money.
Don’t perform financial transactions on public Wi-Fi networks
Avoid shopping online or paying bills on unsecured Wi-Fi networks. Doing so could make your banking information vulnerable to theft because these networks are often unencrypted or might be fake and may allow others to access your data. If you need to perform a financial transaction, wait until you’re connected to a secure network.
Dispose of any documents that contain your credit card number
If you want to get rid of any papers containing your bank card information, it’s best to shred them before throwing them in the trash, so they don’t end up in someone’s hands.
Check your card statements regularly
Regularly reviewing your bank card statements will help you detect any unauthorised transactions. If you notice any payments on your card that you didn’t make, contact your bank immediately.
Protect your devices from viruses
If you perform most of your financial transactions on your computer or phone, it’s important to download antivirus and antispyware software to protect your personal and card information from theft.
Also, download the latest iOS and Android versions on your phone to fix security vulnerabilities and protect your device from getting hacked.
Fraud is a side effect of using bank cards. But being careful can help you avoid it.
