Credit card fraud nz

Credit Card Frauds

At loan nz we will provide you simple and easy way to protect you and your family from credit card fraud.Credit cards were created so that life could be made easy, so that we did not have to carry large amounts of cash with us and risk being physically and violently robbed.

However, these days many credit card owners find themselves emotionally robbed as fraudsters take over the act by cleaning up the hard- earned cash in banks from unsuspecting victims. Credit card fraud involves the use of someone’s credit cards without the consent or authorization of the owner. Credit card fraud is a highly profitable business for the culprits and this is all attributed to our (the victims) carelessness.

Types of credit card frauds.

One of them is called “identity theft”. This occurs when an unscrupulous individual gains access to personal information such as name, address, social security number, driver's license number, etc. of the victim. They can access credit card information over the Internet and by using the personal information can pretend to be the owner and use up all the available credit. They can change passwords and even use the information to increase credit limits. 

Credit Card Frauds in New Zealand 

Fraudsters target cards that can be easily manipulated. These are mainly the standard cards such as those from countries like New Zealand that have the magnetic strip on them. Despite the increased number of reported bank card fraud cases in New Zealand, the resolution rate of these types of crimes is on the decrease. This, according to police is due to the lack of a specialised investigation team in the force.

Ways to prevent credit card Fraud

In our quest to become a cashless society, some of us may end up as cashless individuals. But there is still hope after all. We can greatly reduce fraudulent acts by practising a few basic safety tips.

Simplest method in reducing fraud is to keep the credit card safe and to report stolen or lost cards right away to the relevant authority. This reduces the chances of someone finding it and using it in a fraudulent way.
The problem of online identity theft can be reduced by avoiding “questionable” websites, by practising safe email protocol such as not opening email from unknown senders, by downloading software only from trusted sites and by ensuring that the best security software is installed on PC.
Other simple rules to practice in keeping credit or bank cards safe include choosing a sensible PIN number (not a number that can be easily guessed), never to keep written PIN or disclose it or any personal information online. It’s also sensible to make sure no one sees the number that you use to log into ATM terminals and after using the card remember to remove the card from the machine and put it back in a safe place.