Credit card fraud can happen online to even the most computer savvy among us. Scammers have become excellent at re-creating websites and emails that appear to be from legitimate banks and retailers. If the worst case scenario happens, and you believe you’ve become a victim of credit card fraud, don’t panic. The first thing you need to do is report it to your credit card company.
If you have credit card fraud protection as a service through your bank or credit card company, they may refund you the amount of any unauthorized purchases, as long as you report the crime immediately. Your credit card company can also issue a “stop payment” on your card so that nobody else can make any further purchases with it.
It is also a good idea to alert your bank or financial institution, and your local police department. There are online national and international fraud watch organizations available where you can file a complaint. Making sure all of the required companies and authorities are notified will help to ensure that the damage done by this criminal is limited.
Time is of the essence when dealing with online credit card fraud. In order to limit the financial damage, it is critical to report fraudulent use of your card as soon as possible.
The Federal Trade Commission has an excellent website with more information on spotting, stopping, and avoiding credit card fraud.
