Credit card fraud issue still unresolved

Credit card fraud comes in many forms and can be difficult to fix so it is best to try and prevent it when possible.

06:36 15 June 2013

Credit card expenses paid by the Essex County Council in the amount of approximately £50,000 from Lord Hanningfield were scrutinized and the recommendation was that Lord Hanningfield should repay the amount. As of yet nothing has been repaid.

For the everyday person with credit cards, we simply need to keep track of our own purchases, but we can suffer from similar circumstances in the case of identity theft and credit card fraud. Here are a few ways to protect your identity and prevent credit card fraud.

• Disposal—whenever you dispose of paperwork with crucial information on it, be sure to shred the paperwork before disposing of it. There are different types of shredding machines available, but as a general rule one that cuts thinner strips is preferable when dealing with credit card numbers, and cross-cutting capabilities make your information even more secure.

 

• Phone security—we may receive phone calls frequently either claiming we have won a prize, that someone can save us money, or that we need to make a payment. While some of these calls may be legitimate, it is a good idea to get a callback number and offer to call at a later time to give your payment details, or sensitive information.

 

• ATMs—these are tricky places at times. Try to visit an ATM with a friend so you will not be alone. Shield the number entry pad with your body when putting in your PIN, and use ATMs that have security cameras.

 

• Protection—you may want to consider investing in identity protection programmes, which will help sort out your finances and protect you from losing money if someone steals your identity. This may even include some types of credit card fraud.

 

• Billing—check your bills and banks statements each month, not just if the amount seems odd to you. Check your credit card bill for small recurring charges.