Identity Fraud

Credit Card Identity Fraud

This type of fraud occurs when a fraudster has an easy access to your bank details either through your credit card statements or utility bills and craftily uses this information to make an application for a credit card in your name. Once the application has been approved, the fraudster is then able to purchase goods and services in your name. Sounds ghastly, doesn't it? But the ugly truth is that you then become the unfortunate victim of identity fraud. So how can one protect himself or herself from becoming a victim? Here are a few possible ways to ensure that this unfortunate event never happens to you:

First and foremost, remember to shred all official documents that you no longer need to keep in your possession. If you were to simply scrunch up your official document into a ball and then bin it, the fraudster is likely to scavenge your bin, smooth out the creased document and hey presto, all your personal details has, like magic, slipped into his hands! Shredding is a good way of avoiding such a terrible occurrence from happening.

Always remember to check your credit card statements every month so as to ensure no unauthorised transactions have taken place in your name. If you see a suspicious looking transaction recorded in your statement, report this fact immediately to your credit card provider and to the police.

Get the most recent copy of your credit card report and check if there has been any credit search against your name. This will give you a vital clue if anyone has made an application for a credit card in your name. If you find this to be the case, report the matter to the credit card provider immediately. When you move house, remember to inform all official bodies that you no longer reside at your old address. You could also contact Royal Mail for details of their re-direction service.

And lastly, never, ever, reveal your PIN to anyone. And don't make the mistake of writing it down because if others, whether they are known or unknown, get to read it, they will have an easy access to your bank account. Memorize it instead. Do keep in mind, that the chip and PIN method is an excellent anti-fraud measure to keep potential fraudsters at bay. Without your PIN, the fraudster will be unable to purchase goods and services at retail outlets or withdraw your cash from the ATM.