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How to safeguard yourself against credit card fraud

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These days there seems to be sharp rise in credit card fraud.There are many techniques used in credit card fraud.First we will reveal the bad practices used for credit card fraud then we will list out the ways to tackle it.

Here are the practices used by fraudsters to get your credit card,bank account,debit card details..

1.Dexter Malware-

This is a POS(point of sale systems) Malware.This malware has affected computers running windows xp,home and windows 7.So be careful when you swipe your card at big retailers,hotels,restaurents,shops etc.

2.DNS Hack-

This is the most dangerous attack.Whenever you open a website you type its url say www.somebank.com in a web browser,your computer maintains a DNS cache.It gets updated once url is resolved with an ip address.Hence DNS cache has url and corresponding ip address for all websites you visit.Always remember,every website has an IP address.

This type of attack is also called Pharming. Here a virus attacks DNS cache and modifies the IP-Address and leaving its corresponding url intact.Now you know, if you typed the same url, it gets redirected to hackers’s website and you end up giving your bank account’s login information.

3.Skimming or Cloning device-

This is the technique where a scanner type of device is  fitted to card readers, placed at various merchants.When you swipe a card,the skimming device secretly records the cards details.Later these recorded information is used to clone the used card.

4.Phishing-

This is most common practice used to get personal details of a person.This kind of stealing of information is done by sending email  to your mailbox, where you get a link similar to a bank website link.In the email, it might be mentioned that xyz bank wants to verify or validate your personal information.Once user enters the details ,fraudsters carry the operation.

Other way of phishing email might be in form of attachment which once downloaded on computers,records keystrokes which contains login’s of your various bank accounts.These records get transmitted over internet to hacker over an open internet connection.

5.Social Engineering-

This is the most common type of social misleading.Here perpetrators interact with victim as bank executive or insurance executives.These executive’s promise some sort of financial reward and free goodies.

Here are ways to safeguard yourself from Card Fraud:-

1.check SSL tag in url.Always look for https in url.There are authorized security agencies which verifies a bank website.check for their logos on bank’s or retail’s website.

2.Never ever access your bank account from cyber cafe,shared computer or computer infected with virus.Always use personal computer and make sure it is free from virus.

3.Do not ever click on a link in your email which is sent to your mailbox to verify your personal information.Bank never send’s email asking for your personal information.

4.Do not ever reveal your personal information like date of birth,mother’s name, card number,username,cvv or any related bank information in social netwoking sites.

5.Do not respond to queries related to your bank related information over phone call.

6.Flush the DNS cache of your computer.On windows system, open DOS prompt(run->cmd) and enter ipconfig /flushdns.

Be aware of best practices and share this article to spread awareness.

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