Credit Card Security, Scams & Identity Theft
According to the Identity Theft Resource Center, at least 15 million victims of identity theft were reported in 2006, around 28 new victims each minute! Phishing scams – in which targets are approached by email or phony internet websites – have reached epidemic proportions. Phishing websites can install software on your computer without your knowledge, obtaining personal information, passwords, and financial information. They’ve become so sophisticated that by July 2006, 23,670 phishing websites were reported, up from 4,564 in July 2005. How can you avoid becoming a victim?
- Never respond to emails – Even if they look legitimate. Your real credit card company will never ask for personal financial information, such as your account numbers or passwords, through email. Never click on any links in the email message, and if the email was delivered to your college email account, notify the helpdesk, forward the email to them, and delete it.
- Report your credit card loss or theft immediately – Even if you’re sure you just misplaced it, cancel your card for peace of mind and arrange for a new card.
- Use secure servers – When making online purchases, only use vendors that use secure servers. Never give credit card info to a vendor through email.
- Phone it in – Do not give credit card info to someone who calls you. If you choose to order from a catalog, you, the caller, is the one who calls the shots.
- Keep it to yourself – Never lend your card or give your PIN to friends! You might trust them completely, but how can you guarantee they won’t get mugged or misplace your card?
- Review your statements – Go over them with a fine-tooth comb. If you don’t recognize a charge and are sure that you didn’t authorize it, contact the company that issued your card right away. The sooner you catch these problems, the better your hedge against the Number One consumer concern.