MANILA, Philippines—What was a pleasant dinner with family in a nice restaurant turned later into a nightmare for one American, according to an Internet story.His credit-card bill reflected charges running up to several hundred dollars immediately after that evening that he did not make. Eventually, of course, he managed to sort out the problem but it took a while. In the meantime, because his card was “maxed out,” he could not use it. People who use credit or even automated teller machine (ATM) cards now have to deal with this constant threat. Technology has not only made life easier for law-abiding people but also for scam artists. One report said a portable card scanner is actually being sold in gadget shops in the United States for a legitimate purpose. Many conference organizers now issue identification cards to participants that are scanned for access to events. As is usually the case, it did not take long before people with not-so-pure intentions saw another use for the gadget. Banks constantly remind clients not to write down their personal identification numbers (PIN) or, if they have to, not to keep them with their ATM cards. I personally know of two incidents where thieves hit the jackpot. Pins to the ATM cards they stole were stuck to the cards themselves. To reduce the chances of your being victimized, here are some helpful tips from Citibank, which recently issued the booklet “Use Credit Wisely” to help cardholders not just to manage their finances better. “Credit card, ATM and Internet fraud can often be prevented. Most credit thieves use stolen credit cards within 48 hours. Call your credit-card company immediately to report a lost card,” the booklet advises. It points out that different card companies have different rules regarding a cardholder’s responsibility for unauthorized charges. Find out what those rules are so you would know what to do if you are victimized. Some banks may require you to pay the unauthorized charges if your card is used before you report it lost or stolen. “Follow up your call with a letter giving your account number, the date the card was missing and when you called in the report.” Another useful advice is, “Be careful about how and when you use your credit cards. Never lend them to anyone, don’t give your numbers to anybody and never leave your cards or receipts lying around, no matter where you live.” If you get a call or e-mail purportedly from your bank asking for account numbers and other information, ignore it. Banks have repeatedly said they would not ask for the information because they have it—they gave it to you. More tips Here are other things to remember: Always know where your cards are and keep them in a safe place. Don’t give your account number over the phone unless you know the company and you made the call. Get a card that has added security features, like a photograph. Draw a line through the blank space above the total on charge slips to prevent changes and tear up carbons from slips. Don’t sign blank charge slips. Always check receipts against your monthly statements. Errors must be reported within 20 days (or whatever your bank’s or credit card issuer’s deadline) of the statement date. Report any discrepancy no matter how minor. Felons often start with small amounts just to see if you will notice. Record card numbers, expiration date and phone numbers. Keep this record in a safe place separate from your cards. Use it if you need to report lost or stolen cards. Never put your account number or personal identification number on the outside of an envelope or postcard. Never put your PIN on the card or in your wallet. Carry only the cards you need, especially when travelling. Online scams The website MSN Money cites ways thieves try to get information from you through the Internet to be able to access your bank accounts or credit cards: Phishing. You get an e-mail that appears to be from your bank or an online service instructing you to click on a link and provide information to verify your account. Pharming or spoofing. From a legitimate website, you are redirected to an impostor site that asks you for confidential information. Smishing. This is phishing done with a text message on a smart phone. It instructs you to visit a bogus website. Spyware. You unknowingly download illicit software when you open an attachment, click on a popup or download a song or a game. Felons use spyware to record your keystrokes and obtain credit-card numbers, bank account information and passwords when you make purchases or other business online. They also can access confidential information on your hard drive. |