Ways to Stop Common Credit and Debit Card Fraud
It is from ABC Lifestyle.
The topic is about scams and fraud.
Experts say card fraud can happen even if your card is in your wallet.
Last year, over 2 million Australians lost $2.2 billion to card fraud.
Card fraud is when someone uses your card details without your permission.
It can happen without your card leaving your wallet.
Here are some common types of card fraud and how to stay safe.
Card skimming is when a device is attached to an ATM to steal your card data.
A small camera or keypad can also capture your PIN.
Skimming is old-fashioned, but it still happens, especially at standalone ATMs.
Always check the ATM before using it, especially if it looks damaged.
Use the contactless reader and cover the keypad when entering your PIN.
Other common card fraud methods include lost or stolen cards.
Thieves often steal cards from mailboxes in apartments or townhouses.
The Australian Securities and Investments Commission says card fraud can also happen through other means.
The best way to protect your cards is to monitor your accounts regularly.
Most victims don't realize their card has been used fraudulently until their bank contacts them.
Check your accounts often and use payment apps on your phone for extra security.
Using your mobile wallet can add extra layers of security.
The Australian Securities and Investments Commission recommends taking measures to limit losses.
Reimbursement is not guaranteed if you are a victim of card fraud.
If you notice fraud, contact your bank immediately.
The faster you act, the better your chances of getting your money back.
Three in four people who experienced card fraud got their money back, but one in four did not.
If a debit or credit card is used without permission, the bank will generally refund the transaction.
Report card fraud to your bank right away.
The longer you wait, the harder it is to recover evidence.
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