Just as credit card fraud is on the rise, so too is debit card fraud. To commit debit card fraud, all a thief needs is your card number and Personal Identification Number (PIN). This allows the thief to gain access to your bank accounts. Debit card fraud can be even more devastating in some ways than credit card fraud, since in this case the criminal gains access to the money you are using for every day spending.
The following are basic things you can do to prevent debit card fraud:
- Don’t give your PIN to anyone. That includes family members and friends.
- Shield your PIN from onlookers when using it to make a transaction.
- Always review financial and account statements to ensure accuracy.
- Don’t discuss debit card information when talking on a cell phone because conversations can be picked up by radio scanners.
Of course, if you do suspect that your card or PIN has been compromised, contact your bank or financial institution immediately.
