Always Read Your Account Statements: It’s For Your Own Protection
This week, Australian police arrested several people involved in credit card theft. The perpetrators allegedly stole credit card information off people from different countries via phishing sites (basically web pages that pretend to facilitate transactions yet only exist to gather your information), used them to buy luxury products (like electronics and tools) and sold the goods on Ebay. Police believe the group is massive and has been in operation for years.
Since they practically got the products at no cost, the group sold them at slashed down prices, which allowed them to turn it over very fast. Using the system, the crime ring has survived unscathed for a long time before being recently caught.
While this news happened just two days ago, the same story has been repeated so many times. Not only do credit card scams exist, they are seriously rampant and can leave you victimized if you don’t watch out. As such, you should exercise vigilance, always checking your credit card statements to see if there are transactions that you aren’t aware of.
In case you find any invalid entries in your statement, call the card company immediately and inform them of the fraud. Even if it’s a $5 charge, always err on the side of caution when it comes to potential identity theft. Believe me, the hassle of calling up your credit card issuer, requesting a new number and obtaining a new card are well worth the potential turmoil that awaits you if your account is really compromised.
Credit card fraud is a serious problem. Take it seriously.
