Hi, I am Paul and welcome to Ways to Avoid Scam. I am here to talk with you about ways to avoid scams and frauds, especially Credit card fraud and the many prevalent internet scams.
What is Fraud?
Fraud is defined as wrongful or criminal deception (theft) intended to result in financial or personal gain. It is plain and straightforward deception to gain access unlawfully to another person property.
About Credit Card Fraud
Credit card fraud is therefore, wrongful or criminal deception, or in plain words “theft” using either a credit card or a debit card obtained fraudulently for personal financial gain.
With the proliferation of both credit cards and Debit cards, Credit card fraud although limited to about 0.01% of all card transactions. When you consider that credit card transactions in 2012 totaled approximately 14.440 billion US dollars and that this is expected to grow at an average rate of 8.1% annually, Credit card fraud has amounted to huge financial losses.
How I Myself Got Scammed
No one is exempt from credit card fraud. I myself had the unfortunate experience recently of going to an ATM about 6pm in the evening in a very busy part of the city. I must confess that I was not very vigilant, as I was not expecting any kind of fraudulent activity. This was a real eye-opener for me.
I Really Wasn’t Paying Attention
I was the third person in the line when I came into the ATM with my wife; she had forgotten her card in another purse and need to pay for something in cash. As I said I was not paying particular attention to the two people in front of me, I did notice that when the first person a woman pushed in her card she seems to have trouble getting it in and was unable to complete the transaction and left.
The second person a man, perhaps because he was closer to the woman, scrutinized the machine intently, decided not to use the ATM and left,
However, because my wife and I had been talking and were further away and not paying any great attention – I pushed my card into the machine. A message came up stating that there had been an error, gave me back my card and shut down the machine. I left only to contacted two days later by my home bank who advised me that the ATM machined that I used had been hacked and that there was a possibility that me card was compromised.
Good News – No Money was taken
Fortunately it turns out that no money was taken. I must the bank itself moved very efficiently, shut down my card immediately, had me confirm that all the transactions on my statement were made by me and issued me a new card.
What We Set Out to Do
Since then there has been many instances where people have tried to get me to give info, or even click on stuff. This caused me to begin to research scams and their effects.
Using the internet opens you up to many other types of scams and frauds. On Ways to Avoid Scam we will talk about credit cards fraud and other types of frauds and scam. We will also look at ways to avoid being cheated or scammed on the World Wide Web and look at some legitimate internet performers.
We have found that the more people you expose these fraudsters by telling your own story, the more people become aware of the dangers scams pose.
If you ever need a hand or have any questions, feel free to leave them below and I will be more than happy to help you out.
All the best,