Experian Fraud Alert

experian fraud alert

The 21st century is known as the century of advanced technology, and along with this advance technology comes the ability to conduct secure e-commerce transactions. However, as convenient and appealing as this internet feature is it does come with some flaws as the chance of credit card fraud is remarkably high. Nowadays, if you do not take credit card usage seriously and do not install the appropriate amount of internet security it is likely you have opened yourself to fraud. Yet, we still find that the best way to manage online fraud and raise fraud alerts is through understanding the concept itself. This article will provide information on these topics.

Collecting fraudulent information

Firstly, how does online credit card fraud occur? Well, this happens when online thieves hack into accounts and locate personal financial information such as receipts and card numbers. The online sites that are targeted generally include merchant databases. Of course, this information can also be obtained via a non-online source whereby the thief can obtain your credit card information using secondary readers that copy data from the magnetic strip of your card. For example, an individual will pass the strip over a gas pump that has been tampered with and now operates as a device to record card numbers.

Preventing the fraud

experian fraud alertPreventing fraud may seem like an overwhelming task, however this is a misconception as doing simple tasks such as keeping your credit card details/pins private can be preventative. It is also recommended that you only lend your card to others when in an emergency and update the pin once the card has been returned for security purposes. Furthermore, keeping your card in sight when cashing out at a store can be useful in avoiding any theft or fraud – people are more likely to attempt theft from non-vigilant shoppers than those who are watching them closely.

Further means of preventing fraud include the shredding of all billing information that arrives at your home – never assume these details are safe because you live in a ‘nice neighborhood’. If you choose to store information in a traditional paper filing system it is recommended that you keep the statements in a secure area away from other individuals, particularly children. If the details are stored on a computer it is recommended they be kept in a secure system with a password. If you choose to cancel any cards always destroy them and confirm with the credit card company that the card has been cancelled.

Fraud alert

It is important to check your credit card statements on a regular basis; this not only allows you to keep track of your financial situation, but will also alert you as to whether you are a victim of fraud or not. If you happen to note any unauthorized transactions on your statements, or amounts that do not tally up on receipts, it is imperative that you contact your credit card company or bank immediately and open up a dispute with the credit reporting agency.

Final words

Keeping your credit card details secure is important and there are various ways of doing so, but if they fall into the wrong hands there are also measures (listed above) of conducting a fraud alert.

experian fraud