Protect Yourself From Credit and Debit Card Fraud
Credit and debit card fraud remains a significant global issue in 2024, with losses continuing to rise despite efforts to improve security measures. In 2022, global losses from card fraud reached approximately $33.5 billion, up from $28.4 billion in 2020. Projections suggest these losses could rise to $43.47 billion by 2028. The rate of fraud per transaction volume has stabilized, suggesting improvements in fraud detection, though overall fraudulent transactions continue to increase (Source - Techopedia)
Tips for Preventing Credit and Debit Card Fraud
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Monitor Your Accounts Regularly: Check your bank statements and account activity frequently to spot any unauthorized transactions early.
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Use Secure Websites: Always shop from trusted sites with "https" in the URL and avoid public Wi-Fi when making transactions.
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Set Up Alerts: Enable transaction alerts via text or email to receive instant notifications of any unusual activity.
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Keep Your Cards Safe: Store your cards in a secure place and avoid sharing your card details over the phone, email, or social media.
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Protect Your PIN: Shield the keypad when entering your PIN at ATMs and point-of-sale terminals, and never write it down.
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Report Lost or Stolen Cards Immediately: Notify your bank or card issuer as soon as you realize your card is missing to prevent unauthorized use.
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By following these tips, you can help protect yourself from credit and debit card fraud and keep your finances secure.
