Credit card fraud is rife across the world, with criminals operating many different scams and techniques to get hold of your details.
2014 Stat:
a. 250 million+ number of compromised credit-card for online sales
b. 60% proportion of credit card fraud that involves card not present.
3. Rise in “Card not present” fraud since 2011.
The common fraud tactic:
1. Card not present – fraud occurs when neither the cardholder nor the card are present during a transaction. The rise of online shopping making it easy to target by fraudsters, because online transaction can be done without card holder acknowledgement.
2. Phishing – Scammers acquire card information by sending suspicious email to card holder. Most often is linking to a fake website that looks legitimate website like bank, they will ask user to fill up card detail and security pin.
3. Skimming – This is a card ID theft method, when user place their card into illegitimate card reader, or use a hidden cameras to record card holder detail and pin.
4. The courier scam – fraudsters flagged a fake fraudulent transaction on your card. Then they request user to handover their card into envelop, a genuine courier will collect the envelope and delivered to fraudsters to withdraw money.
Global Fraud Monthly Briefings
Plastic card victimisation increases with higher household income
Global credit card Fraud Stat
Credit card fraud is rife across the world, with criminals operating many different scams and techniques to get hold of your details.
2014 Stat:
a. 250 million+ number of compromised credit-card for online sales
b. 60% proportion of credit card fraud that involves card not present.
3. Rise in “Card not present” fraud since 2011.
The common fraud tactic:
1. Card not present – fraud occurs when neither the cardholder nor the card are present during a transaction. The rise of online shopping making it easy to target by fraudsters, because online transaction can be done without card holder acknowledgement.
2. Phishing – Scammers acquire card information by sending suspicious email to card holder. Most often is linking to a fake website that looks legitimate website like bank, they will ask user to fill up card detail and security pin.
3. Skimming – This is a card ID theft method, when user place their card into illegitimate card reader, or use a hidden cameras to record card holder detail and pin.
4. The courier scam – fraudsters flagged a fake fraudulent transaction on your card. Then they request user to handover their card into envelop, a genuine courier will collect the envelope and delivered to fraudsters to withdraw money.
Global Fraud Monthly Briefings
Plastic card victimisation increases with higher household income