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Prepaid CardsAre You Aware Of Misuse of
Credit Cards? Have A Look On Misuse Of Credit Cards There has been alarming rise in the number of credit card misuse in last few years, If uses to purchase or do any online transactions using credit card on the Internet, the details of the card are captured and are stored somewhere on the net, and at times used for criminal activities. At the end the card holder lands up with unnecessary bills in his account. These days many sites promise to have a secured server connection that most of the people are convinced off. But the virus on the internet will cause the credit card details to be transmitted and stored somewhere else in the internet. Wide-ranging fraud and theft are found to be committed by the use of a credit card or any other relevant payment mechanism. They are used as fraudulent sources of funds and is known as Misuse of credit card. The main purpose behind this is to obtain funds and purchase good without the know how of the card holder. Credit card misuse is a part of identity theft. The Federal Trade Commission states that for the last few years theft identity had been gaining steady hold. In 2008 there has been an increase of 21 percent and 32 percent in 2009. Due to the increase in the number of transactions online such thefts are in high. The misuse begins with actual or virtual thefts of cards followed by compromising data that are associated with the respective account, for doping transactions or taking money using the routine card information. Holder of the card does not even sense the misuse at individual level and time he notices it, it is already too late. For example a clerk of a store can easily copy the receipts of sales to use later. Too much load on internet in terms of online transactions also lead to the security lapses of database, particularly, costly. In certain cases, millions of accounts are compromised. There are certain precaution measures must be followed by the card holder like, as soon as the card holder finds that the card his missing he must loge a complaint. In certain cases the thief holds the credit card for about weeks or even months prior any misuse. Thus, this makes it difficult to recognize the particular source of the compromise. The card holder blocks the card and the issuer issues a new card to the customer, suddenly in a blue moon the card holder notices that there has been big misuse of his card once he receives his/ her bill statements, which may be delivered in frequently. To avoid misuse
of credit cards one must use merchant sites requiring extra information from
the customers while transactions, like sites with Visa and MasterCard called
Verified by Visa and MasterCard SecureCode access, under the umbrella term 3-D
Secure. Categories
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