19 Nov

Online shopping is becoming a booming phenomenon, so is the online thefts.  Debit cards and credit cards are being cloned and compromised like never before. Many times you have credit card/debit card in your pocket but you get the message that, ….. amount has been deducted from your bank account.

Factors in our control

There are so many ways by which we can secure the card transactions, like by not using it at insecure places as mentioned below:

  1. Petrol pumps
  2. Cyber cafes
  3. Random restaurants
  4. No-name ATMs
  5. Super markets
  6. Non trusted shopping websites

Factors not in our control

But there are many factors which are not in our control, like:

  1. If a bank server gets hacked, all details of its customers and their financial means will go in hands of the hacker
  2. Persons who manage credit cards can become a source of leaking data
  3. Credit or Debit Cards being cloned at ATMs, call centres which are authorized by bank companies for card communication with customers etc.

Steps to securing yourself against the Credit/Debit card fraud

Still, we can secure ourselves by taking some simple precautions:

  1. Normally while using credit/debit card online you need to enter some details like card no., validity month/year, and three digits CVV number. All these details are present on the card. You can erase the CVV number on the card after remembering it. So that even when you lose the card somehow, no online transaction can be done using it.
  1. Do not write the ATM Pin code on your card for your convenience.
  1. Always update your card provider with the latest information about you. Always inform the card provider bank in case the change of mobile number, address or any detail.
  1. Stop having paper statements as data mentioned on these paper statements can be misused by hackers. Be in habit of reading card statements online or through e-mail.
  1. Don’t provide both sides photocopy of the card to anyone. It is like giving a copy of the card to anybody.
  1. In case you lose the card, inform the bank immediately. Banks can block and prevent the misuse of card.
  1. Always use your card to make online transactions in the websites whose URL starts with https://, like https://flipkcart.com. These websites use another secured security layer (SSL) for encryption and protection of data. These websites normally have a padlock icon in front of the website address.
  1. Never give details of your card in any survey form or website which claims that it will not use your card details.
  1. Never use your smartphone/laptop on a public Wi-Fi network to conduct mobile/online banking or e-commerce transactions. There could be a man-in-the-middle attack by which someone in-between can be accessing your details.
  1. While using your smartphone to do banking transactions, always log out after the transaction is complete. Also, install some security software (like Prey app) on your mobile phone so in case you lose your mobile, you can lock or wipe out your mobile data remotely.

So friends, these were some tips to safeguard your credit or debit card. If you think I have missed something important, please add to it in the comments section.

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