Gearing up for the holidays, consumers are getting ready to pull a Wilma Flintstone and, “Charge it!” Many don’t realize that you cannot protect your credit card number. Every time you use a credit card, you increase the chances of that card number being used fraudulently.

1. When handing your card to a clerk or cashier, pay close attention. The card should be swiped through a point of sale terminal or keyboard card reader once, maybe twice. If your card is swiped through an additional reader, the card number may have been stolen.

2. Shop only at trusted sites. Phantom websites appear online all year round. They look legitimate, resembling well-known online retailers. But only do business those you recognize. Established online merchants are best.

3. Unsolicited emails that request sensitive data such as credit card numbers or lead you to a too-good-to-be-true offer are most likely phishing emails. Don’t disclose your information, and don’t click unknown links.

4. Check your credit card statements daily, if possible. Once a week is sufficient. Refute any unauthorized withdrawals or transactions within the time limit stipulated by your bank. For most credit cards, it’s 60 days, and for debit cards the limit can be 30 days or less. (more…)

How much money has the world lost to e-crime so far? … A trillion dollars. That’s the estimated annual cost of e-crime worldwide, according to a recent article, “National online-fraud helpline to launch in April.” Despite the staggering losses attributed to online crime, victims of such crimes—both individuals and businesses—have not had a simple option for reporting them. Hopefully this is about to improve, with the UK’s new Action Fraud helpline, one of the first attempts at streamlining a call-in process for victims to report online crime.

I commend the National Fraud Reporting Centre (NFRC) for getting the hotline going. The helpline will allow individuals and small businesses to report cyber crime to a central agency, simplifying what would otherwise be a confusing process involving potentially several different government ag encies. A similar effort in the U.S., the Internet Crime Complain Center (IC3), currently allows individuals to file complaints of internet fraud through its website. (more…)