How To Combat Debit Card Fraud – Causes and Prevention.

Prevention of Debit Card Fraud

Here are certain steps that you can take to prevent debit card fraud -

• Keep track of your transactions and check your account balance regularly. This way you can find out if there is any fraudulent activity taking place. Make use of online banking to keep track of your account status; it saves time. Also check your credit report regularly and look for any transactions that appear out of place.
• Memorize your PIN numbers – do not store them anywhere. Reduce paper trails of debit card transactions; tear and destroy ATM receipts.
• Cancel out any blank areas in receipts so that they cannot be manipulated by fraudsters.
• If you are traveling then intimate your debit card issuer about the departure and arrival dates – this way the bank knows that any transactions on your card while you are away need investigation.
• Ensure that your internet connectivity is protected from hack attacks. Use a firewall and a trusted anti-virus. If you make purchases online ensure that the merchant site is protected and secure.

Causes of Debit Card Fraud

• Debit card fraud that takes place on a massive scale where PINs are stolen and customer information compromised usually happen because retailers store PIN details on computers and these systems are vulnerable to hackers. Once hackers have a sufficient number of PINs they can create false identities and use fake debit cards. What you need to do is to avoid using PIN pads when using a debit card; instead sign a receipt.
• Thieves often use card cleaning machines to swipe magnetic data from a debit card. Stay away from suspicious looking ATM machines.