Credit card theft may increase during Christmas
The Australian has warned that the coming Christmas may see a spate of credit card thefts and frauds. According to research firm Cannex, credit card usage will increase by 25% and will hit a whopping $ 17 billion in Australia.
Cannex states that the 13.1 million credit cards that are in use in Australia could rack up purchases of more than $1,300 each. The increased exposure of credit cards during the season has prompted MembersEquity Bank to ask its members to be extra careful in how they handle their cards in public places.
Tony Beck, who heads the workplace business at MembersEquity states “Credit cards are great for convenience, but criminals are getting smarter and the incidence of fraud is increasing. Consumers need to protect the security of their card and PIN to ensure they have ultimate control over their accounts.”
You can take precautions such as memorizing your pin, safeguarding your card, ensure that the sales person is swiping the card correctly, store your receipts, and always take a receipt if you are canceling a purchase.
