Alert - Credit Card Fraud and Holiday Shopping

Alert - Holiday Shopping Could Put Your at Greater Risk for Credit Card Fraud

This the season for shopping, giving and unfortunately credit card fraud. While credit card fraud can occur at any time of the year the Holidays offer an increased risk.

Increased usages of credit and debit cards, long lines at checkouts, higher frequency of online credit card purchases as well as a more festive shopper can all add up to a higher chance that you could fall victim to credit card fraud or debit card fraud.

A recent investigative report by Lesley Tanner at CBS03 TV in Springfield, MA illustrated the danger.

A little piece of plastic has shortened shopping times and made spending a cinch, but what happens when someone uses your credit card against you."It would be so easy for someone to take someone's card and get away with it," says Joey Swain of West Springfield. But it shouldn't be, store cashiers are supposed to match your signature every time you swipe."I would probably say 99-percent of the time they don't ask for ID," says Stacey Bingham of Ludlow. And when lines get long the statistics get even worse."Christmas is a huge example based upon the lines," says Kostin, Ruffkess & Company's Fraud Specialist Joseph Centofanti. "They don't look at anything it's just such a huge process to move everybody through."

The reporter found lack security measures by some store personal that could increase the likelihood of your credit card being used by a fraudster.

The story goes on to point out that you can take steps to protect yourself and limit the possibility that a lost or stolen credit card number can result in financial loss and even identity theft.

The full report is available here.

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Here are some things to do to make sure you protect your credit card information or at least minimize the damage if you become a victim of credit card fraud.

1. Vigilantly review for statement as soon as it arrives and immediately report charges you don't recognize.
2. Consider using online banking to view you transactions and statements. A number of studies have demonstrated that people who regularly view their transactions online have smaller losses on average than those who don't.
3. Consider switching to an electronic statement instead of paper. Most major credit card issuers support this.
4. Keep your credit card in a secure place when shopping. Stores crowded with Holiday shoppers make great targets for criminals.
5. Shred documents that contain personal information such as credit card statements. Contrary to common belief, a large percentage of identity theft occurs after personal information is found lying in the open, or in trash bins.
6. Make sure you have adequately protected your computer with current, updated anti-virus and anti-spyware programs.
7. Regularly review your credit report.
8. Be aware of your Bank's policy on handling stolen credit and debit cards. Be aware that while some protection is available there are steps you have to follow to limit your loss. Additionally, some banks extend this protection, even offering 'Zero' liability is some cases.

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For more information about what to do if you think you may be the victim of identity theft visit SecurePCNews at where you can find specific information about dealing with Identity Theft.

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