Here’s how to avoid being a victim of debit card fraud
Here’s how you can protect yourself from debit card fraud
Debit cards have emerged as the most popular method for making online payments. With the rise of debit cards hackers have developed a variety of ways to get the card as well as private details from cardholders.
Debit cards can be used to purchase products and services through the POS machine, shop on the internet using e-commerce platforms and to pay for bills. While banks have instituted an appropriate authentication process to protect cardholders as well as their funds fraudsters trick people by pretending to be bank employees.
The debit card associated with your bank account comes with an encrypted PIN that is the most vital information needed to make any purchase. The user should not save their PINs on their phones or any other document with information regarding their PIN. Banks do not require a PIN for any type of service.
The CVV number on the bottom of the debit card you use is private and is used to make online transfer. Anyone who asks for your CVV number or PIN is a scammer trying to take your hard-earned cash.
To prevent being noticed To avoid being a target, hackers are now making a number of small transactions instead of an enormous amount of money coming from one account. Since the amount that is taken out or transferred by fraudsters is lower and they’re not noticed for a longer time.
To prevent being scammed, customers should pay close attention to messages sent by banks that informs about any financial transactions. In the event of lost or stolen credit cards, the user should immediately notify the bank to be protected from any frauds.
It is advised to do transactions with debit cards only through trustworthy merchants and sites. Users must also be cautious about hiding their pin when they insert it in POS machines. It is not advisable to trust anyone else to take money out or pay for transactions. Be sure that no one makes use of your credit card without your consent at any point.