As we enter the digital age, our transactions are gradually becoming digital. And so the use of mobile banking, credit cards and debit cards is increasing with time. As the use of cash is declining, the new generation is turning to online banking and payments. Along with this, the risk of online fraud is increasing. Currently, there are often reports of various types of fraud. Fraudsters are deceiving in new and innovative ways. And fraud through debit or credit card is one of them.
When it comes to credit or debit card fraud, fraudsters try to get your card information in a variety of ways. Even withdrawal of money by card cloning is happening these days. Moreover, card information theft is happening through the creation of various phishing sites online. So it is very important to be careful about these things. In this post, we will discuss the things that should be especially careful while using the card and the things that should be done.
What to do to keep card information secure
Currently, different banks offer different types of cards for different accounts. Two of the most popular cards are Visa and MasterCard. There are also various types of cards including Amex, Union Pay, Nexus. Each card contains a 15 or 16 digit number, your name, card validity information. Besides, there is a 3 or 4 digit verification code on the front or back of the card.
All these are very important information for card transactions. This information is strictly confidential and like your PIN number no one will ever want to know this information, not even the bank officials. Sometimes the last 3 digits of a 15 or 16 digit card number may be asked for identity verification, which is very normal. But never give full card number to anyone.
Expiration date may sometimes be asked for verification when taking bank services. But no one will ever want to know the 3 or 4 digit verification code except at the time of transaction and never give this information if anyone asks for it. Each card has 2 security levels. OTP may be sent to your phone number or email even after providing all the above information during online transaction. Never share it with anyone. OTP is used to verify whether you are giving your card details yourself for the transaction. For more details about OTP, you can check our post on OTP.
Each card has a PIN number that can be set as desired. Give this pin number something to remember. Do not tell anyone the pin number. Even if the bank officials do not want to know, because this is also private information. PIN number will be required only while using POS machine or ATM. So don’t use pin number anywhere except these two places. However, you may need to verify your PIN when logging into your bank’s app or at a phone call center.
Do not exchange any bank and card related documents with anyone other than an authorized person. These are very important documents. So store them in a safe place.
If your card is dual currency i.e. used for transactions in foreign countries, keep the USD/foreign currency section closed except during the transaction. Because in many websites in foreign countries it is possible to transact only with card name, number, verification code (CVV) and validity information. No additional verification is required. So keeping this part of the card closed will not be a risk of unwanted charges or bills.
If you are a credit card user, don’t make extra payments except for unpaid bills. He may be accused of involvement in money laundering and embezzlement.
To be done while using ATM/ POS terminal
PIN entry is required later during transaction at ATM or POS terminal. But in this case you need to be careful. When you enter this pin, be careful around and enter the pin by covering the pin pad. Be careful that security cameras or anyone nearby can’t see this pin.
Don’t let someone else withdraw money with your card. Use your card yourself at an ATM or POS terminal. Always keep an eye on the card when using it at an outlet for shopping outside so that no one else sees your card information. An ATM or POS terminal has many types of cameras and devices. Always keep an eye on this. Many unscrupulous employees or officials can clone cards by stealing information. So keep an eye on all kinds of devices.
To be done in online/e-commerce transactions
- Always buy from known and popular websites while shopping online. Fraudsters can steal your card information through self-created websites with the lure of low-cost offers. So always give your card details only on websites that have good reviews and are popular with many customers.
- Avoid buying in haste. Always check that the website you are accessing is the correct website. Fraudsters can try to trap you by cloning websites to steal information through phishing. Entering card information on these websites will give all your information to fraudsters.
- Fraudsters can send different links to your mobile or email, enticing different offers. Never access these links. Through these links, malware and viruses can enter your device through which all your sensitive information including card information can go into the hands of fraudsters.
- If someone contacts you via phone, SMS or email regarding any change in your card information, refrain from giving any card information and inform your bank. No one will ever contact you about these things without your permission.
How to use devices and apps
- For online banking we use our various devices like laptops, smartphones, tablets etc. It is important to always configure these devices securely. If you don’t have proper knowledge about it, get it from someone to ensure the security of these devices properly. This will reduce the fear of accessing your bank account even if the device is stolen.
- Try to stay on the latest version of your device’s operating system. The operating system of the devices comes with new security features and benefits every year. So all modern features will make you more secure. Always try to keep Android, iOS or Windows operating system updated.
- Do not use any app other than your bank’s official app for online banking. Do not provide your account or card information anywhere except apps that are popular and trusted. Install apps from safe and trusted locations. This will greatly reduce the fear of data theft.
If you follow the right instructions and be careful, your card usage will be much safer. If you ever suspect that your card information has been stolen, you can immediately inform your bank and block the card. Later you can change all the information and start using the card more carefully.