Credit Card and Identity Fraud
Every month I get a phone call from our clients saying that their credit card has been subjected to fraud. I never used to get these calls but it seems that the number of cases have really gone up in the last six months. It is a big pain in the neck to clear up your account and go through the motions of cancelling your credit card, getting a new one and making sure you don't pay for the items that was purchased on your credit card. The bigger problem is identity theft when someone actually seems to have taken over your life.
Here are eight things you can do to protect yourself from credit card and identity theft.
1. Keep your information private. Memorize your SIN number and don't keep it in your wallet. If your wallet is stolen, so is your SIN number. Keep it in a secure place like a safe at home or a locked drawer. Don't keep it lying around where a thief might break in and steal it.
Don't give out your SIN number to anyone. The banks, insurance companies and other financial institutions will usually require it for tax purposes. There's nothing wrong in asking them how they will use it. But never give out the information over the phone or online.
2. Cover your PIN number whenever you use an ATM machine or punching in your number when you use your debit card. I've seen so many people in the grocery punching their PIN number without covering it and getting everyone to see.
3. Protect your credit cards. Don't give out your credit card number over the phone if someone calls your for that information. If you call them and you know it is the company's number you are calling, then it should be fine. Otherwise, if they call you and ask you for it. Don't give it.
4. Check if your credit card was swiped twice when you make a purchase. It should always be visible when they swipe your card to prevent double swiping. If there was a transaction error, keep a copy of the receipt where it shows there was an error.
5. Be careful when you make an online purchase. If you do it often and find that you only spend a certain amount per month. You can contact your credit card company to put a limit on online purchase with that credit card so it will block any purchases over that limit unless you call them to authorize it.
Some of our clients have this feature on their credit card putting a limit of say $200. Anything over that limit requires the client to call the card company to authorize purchases over that amount.
6. Encrypt your wi-fi. Most people do not set up their wi-fi connection properly allowing anyone to use their wi-fi system. It is a simple set up and most companies have instructions on how to do it online or you can ask your computer retailer how to set it up.
You're allowing hackers to steal your personal information if you do not secure your system. They will be able to access your computer or network where you may have some information stored like credit card numbers and passwords.
7. Do not enter your password or PIN number on public computers. No matter what they say, it will never be secure enough. Use the telephone banking if you need to access your bank account.
8. Beware of phishing scams. Phishing is a when someone sends you via e-mail saying that a certain company or bank is updating their system and that your information may have to be updated. They will send you a link where you are required to enter your credit card or account number and password. It will end up saying that your account has been updated but in reality, they have logged your information and will use it to steal money or use your credit card.
The link on the e-mail will look legitimate, it looks something like this
http://signin.ebay.com/ws/eBayISAPI.dll?SignIn&ssPageName=h_:h:sin:eBayVerification (Warning: DO NOT CLICK OR GO TO SITE)
but when you click it, the URL on your web browswer will look like this
http://mail.teamworks.com.hk/icons/.secure- red/signin.ebay.com/ws/eBayISAPI.dll%253fSignIn&co_partnerId=2&pUserId=&siteid=0&pageType=&pa1=&i1=&bshowgif=&UsingSSL=&ru=&pp=&pa2=&errmsg=& runame=&ruparams=&ruproduct=&sid/(Warning: DO NOT CLICK OR GO TO SITE)
If you look at the domain name it says
http://mail.teamworks.com.hk (Warning: DO NOT CLICK OR GO TO SITE)
Now that is not an eBay address. Why would eBay do that when they have their own domain?
Be smart about it, your card company or bank will not and will never lose your information and require you to re-enter it. They have back-ups in place for that eventuality. In the event they do lose all their data. They will send you information via regular mail to inform you what you should do.
Sometimes common sense works. How can your bank or credit card company know your e-mail if you never gave it to them in the first place?
Here are some sites that has more information about phishing scams and identity theft:
http://www.millersmiles.co.uk/search/eBay - samples of eBay phishing scams.
Anti-Phishing.org - actual samples of phishing scams. The samples will give you an idea on what a phishing scam looks like.
http://www.privacyrights.org/index.htm - information about phishing scams and identity theft. The site is oriented towards the U.S. but has great information.
Personal Information Protection and Electronic Documents Act - a PDF document that sets the ground rules on how organizations may collect, use or disclose information about you in the course of their commercial activities. It also outlines what your rights are if you believe your information is being abused or incorrect and how to file a complaint.
Bank of Montreal Guide on How to Protect Your Account - a guide on how to protect yourself from e-mail or phishing scams as well as how to protect your debit account.
Here are eight things you can do to protect yourself from credit card and identity theft.
1. Keep your information private. Memorize your SIN number and don't keep it in your wallet. If your wallet is stolen, so is your SIN number. Keep it in a secure place like a safe at home or a locked drawer. Don't keep it lying around where a thief might break in and steal it.
Don't give out your SIN number to anyone. The banks, insurance companies and other financial institutions will usually require it for tax purposes. There's nothing wrong in asking them how they will use it. But never give out the information over the phone or online.
2. Cover your PIN number whenever you use an ATM machine or punching in your number when you use your debit card. I've seen so many people in the grocery punching their PIN number without covering it and getting everyone to see.
3. Protect your credit cards. Don't give out your credit card number over the phone if someone calls your for that information. If you call them and you know it is the company's number you are calling, then it should be fine. Otherwise, if they call you and ask you for it. Don't give it.
4. Check if your credit card was swiped twice when you make a purchase. It should always be visible when they swipe your card to prevent double swiping. If there was a transaction error, keep a copy of the receipt where it shows there was an error.
5. Be careful when you make an online purchase. If you do it often and find that you only spend a certain amount per month. You can contact your credit card company to put a limit on online purchase with that credit card so it will block any purchases over that limit unless you call them to authorize it.
Some of our clients have this feature on their credit card putting a limit of say $200. Anything over that limit requires the client to call the card company to authorize purchases over that amount.
6. Encrypt your wi-fi. Most people do not set up their wi-fi connection properly allowing anyone to use their wi-fi system. It is a simple set up and most companies have instructions on how to do it online or you can ask your computer retailer how to set it up.
You're allowing hackers to steal your personal information if you do not secure your system. They will be able to access your computer or network where you may have some information stored like credit card numbers and passwords.
7. Do not enter your password or PIN number on public computers. No matter what they say, it will never be secure enough. Use the telephone banking if you need to access your bank account.
8. Beware of phishing scams. Phishing is a when someone sends you via e-mail saying that a certain company or bank is updating their system and that your information may have to be updated. They will send you a link where you are required to enter your credit card or account number and password. It will end up saying that your account has been updated but in reality, they have logged your information and will use it to steal money or use your credit card.
The link on the e-mail will look legitimate, it looks something like this
http://signin.ebay.com/ws/eBayISAPI.dll?SignIn&ssPageName=h_:h:sin:eBayVerification (Warning: DO NOT CLICK OR GO TO SITE)
but when you click it, the URL on your web browswer will look like this
http://mail.teamworks.com.hk/icons/.secure- red/signin.ebay.com/ws/eBayISAPI.dll%253fSignIn&co_partnerId=2&pUserId=&siteid=0&pageType=&pa1=&i1=&bshowgif=&UsingSSL=&ru=&pp=&pa2=&errmsg=& runame=&ruparams=&ruproduct=&sid/(Warning: DO NOT CLICK OR GO TO SITE)
If you look at the domain name it says
http://mail.teamworks.com.hk (Warning: DO NOT CLICK OR GO TO SITE)
Now that is not an eBay address. Why would eBay do that when they have their own domain?
Be smart about it, your card company or bank will not and will never lose your information and require you to re-enter it. They have back-ups in place for that eventuality. In the event they do lose all their data. They will send you information via regular mail to inform you what you should do.
Sometimes common sense works. How can your bank or credit card company know your e-mail if you never gave it to them in the first place?
Here are some sites that has more information about phishing scams and identity theft:
http://www.millersmiles.co.uk/search/eBay - samples of eBay phishing scams.
Anti-Phishing.org - actual samples of phishing scams. The samples will give you an idea on what a phishing scam looks like.
http://www.privacyrights.org/index.htm - information about phishing scams and identity theft. The site is oriented towards the U.S. but has great information.
Personal Information Protection and Electronic Documents Act - a PDF document that sets the ground rules on how organizations may collect, use or disclose information about you in the course of their commercial activities. It also outlines what your rights are if you believe your information is being abused or incorrect and how to file a complaint.
Bank of Montreal Guide on How to Protect Your Account - a guide on how to protect yourself from e-mail or phishing scams as well as how to protect your debit account.
Comments
Post a Comment