Tips for Preventing Fraud
Fraudsters will stop at nothing to get your personal information and card data. Their scams can be clever, but not clever enough, if you know how they work and how to avoid them. We’ve highlighted a few of the ways fraudsters and identity thieves try to get your information.
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Digital Wallet Services Security
Digital wallets services can hold personal data, including your payment account numbers, passwords and personal information. Similar to the way you protect your physical wallet, it’s important to protect your digital wallet.
Keep three letters in mind to “L-O-K” access to your money and keep it safe:
- Lock it down – Protect the devices you use both physically and with passwords/passphrases
- Only you can access sensitive information – Safeguard sensitive data, including passwords, PINs, and answers to security questions
- Know who to call – Before anything happens, know who to call if there are issues
For more information, read our Digital Wallet Services Security Tips.
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Online
From spyware to shady merchants, the threat of online fraud is real, but you are the best line of defense. The key to combating online fraud is knowing what threats exist and taking easy steps to beat them.
To prevent online fraud:
- Keep current with your software and virus protection
- Create strong passwords
- Ignore emails from senders you don’t know
- Use your pop-up blocker
- Download files only from sites you know
- Sign up for email/text "transaction alerts" from your bank to keep track of your purchases
- Activate Verified by Visa for added security
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Travel
Don’t let fraud ruin the trip of a lifetime. Take these few easy measures before you leave.
Travel smart, travel safe:
- Tell your card issuer where you’re headed and for how long
- Note card numbers, balances and issuer phone numbers and keep them in a safe place
- Save and check all receipts against your statement
- Don’t leave cards unattended
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Retail/ATM
Accepted across the world, more convenient and safer than cash, payment cards have transformed how we shop and bank. But fraudsters may try to steal your card information and use it for unauthorized charges. Make sure you make these transactions in ways that reduce your risk of fraud.
To help stop retail/ATM fraud, remember:
- Review receipts before you sign
- Monitor your statements
- Sign up for email/text "transaction alerts" from your bank
- Keep copies of ATM and sales receipts for your records
- Be aware of your surroundings
- Guard your PIN from fraudster “shoulder surfing”
- Report missing cards immediately
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Email
Phishing is an email scam that tries to trick you into revealing payment card numbers, Social Security numbers, PIN numbers, bank account passwords or other private information. Most phishing starts as an email that links to a fake Internet site that looks like the real thing with familiar logos and graphics, but is not. When you enter personal information on such sites, it gets routed to fraudsters.
To fight phishing:
- Consider all email requests for personal information to be suspicious
- Do not respond to such emails or enter information on questionable websites
- Check the legitimacy of the inquiry by contacting the number on the back of your credit card
- Report suspicious emails or websites to your financial institution
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Identity Theft
If thieves obtain your driver’s license or Social Security number, they can pretend to be you and potentially open bank accounts, order credit cards, write bad checks and obtain loans. They can also ruin your credit score and make it hard to obtain credit in the future. Identity thieves use a variety of tactics, even “dumpster diving” through your trash for personal information.
To help stop identity theft:
- Monitor card and account statements frequently
- Report missing cards immediately
- Cancel all inactive accounts
- Do not volunteer any personal information unless necessary
- Sign new cards upon receipt
- Shred sensitive documents before disposing of them
- Install anti-virus and anti-spyware software
- Change passwords regularly
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Deceptive Marketing
Have you ever signed up for what you thought was a "free trial" then found out months later you’ve been getting billed for it each month? Marketers sometimes offer a free trial or free product but may not adequately convey that you needed to “opt-out” before the end of the trial period to avoid a recurring monthly charge.
Protect yourself from such marketing practices:
- Read and understand all terms and conditions
- Beware of any “free trial” that requires a payment card number
- Understand all pre-checked boxes when ordering online
- Review statements for unauthorized or unusual activity
- Try to resolve issues with the merchant first; if unsuccessful, contact your financial institution
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At Home
Did you know that half of all identity theft is committed by individuals with legitimate access to your home such as live-in caregivers, relatives or renovation crews? Home is a safe place, and here are a few tips to help keep it that way.
A few tips to keep your information secure:
- Monitor your accounts often
- Check your credit report to make sure it’s correct
- Sign up for email/text "transaction alerts" from your bank
- Store important documents securely
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Mail and Phone
Fraudsters can send official-looking letters or pose as representatives from Visa, financial institutions or even charities. If asked to provide your account number or other personal information in the mail or by phone, be wary of fraud.
A few tips can help you beat phone fraud:
- Visa never calls or writes cardholders for personal account information
- Never provide information unless you initiated the communication
- Don’t feel obligated to provide card numbers by phone
- Get details—If the caller can’t answer, it’s not legitimate
- Rather than asking for a “call back number,” research the caller on your own along with their legitimate phone number
- Report requests for personal information to your card issuer by calling the number on the back of your card
You can combat fraud by mail, too:
- Beware of notices announcing that you’ve won a prize for a contest you did not enter
- Notify your post office if you change address
- Make sure your mailbox is secure
- Collect your delivered mail; don’t let it sit in the mailbox too long
- Have your mail held when on vacation
