The vice president of Fraud and Financial Crimes (FICO) has warned people to be careful at this festive and holiday seasons with using their credit cards because it is the period where credit card fraud is always high due to the fact that many people are busy spending now and may be ignorant of fraudulent charges on their credit card due to high transactions.
The CNBC has therefore provided helpful tips on how to prevent frauds on credit cards during this festive period. CNBC encourages card users to regularly monitor their balances and ensure that they check that every single transaction was initiated and validated by them. They added that they should try and activate several credit cards alerts, and contact their card issuers in case of any suspicious transaction.
Another important thing to be watchful of is advert pop-ups, Lasher added. Some of the adverts on social media from online shops that offer huge discounts may not always be reliable, and since it is difficult to differentiate a real ad from those by the fraudster, it will be safe to ensure that you click only on verified ads. And also, always visit the site itself rather than clicking on emails or texts from the company.
He concluded by encouraging shoppers to always guide the personal information and not leave any confidential details unsecured. Use your mobile data when in the public rather than public Wi-Fi, keep your social security number and beware of spam calls from someone claiming to be from banks or financial institution and is requesting for personal details.
