Scenario: You receive a bill for a credit card that you rarely use. It indicates charges for $900 in cash withdrawals from a convenience store located in another city.

Scam: Your card number has been skimmed. The fraudster has made a copy and is using it to make cash withdrawals. Call your credit card company NOW!

It is a debit and credit card world and fraudsters are always inventing new ways to use them to defraud you. You need to be aware of the signs of debit and credit fraud and work with your bank security people to make sure you don't become a victim. Credit/debit card fraud is often connected to identity theft. Personal information obtained in any number of ways can be used to impersonate the cardholder and take over your accounts, order new cards and obtain new PIN numbers. Your address might be changed so that you do not see the bill until the fraudster has made purchases and obtained cash advances. Eventually you either realize you are missing a bill or receive a knock on the door from a collection service.

Skimming is another way fraudsters obtain your card information. It is often accomplished by a dishonest employee, say in a restaurant or shop. They note your card information, then either produce a new card or use the numbers for online or telephone purchases. They may manually copy the numbers, including your expiry date and the three-digit security code printed on the back of the card. They now have everything they need to make many online and telephone purchases. Or they may use a small pocket sized reader that records the information. Skimming is most often accomplished in restaurants, bars and gas stations where the card is out of the sight of the owner and can be swiped through a skimmer without notice.

For debit card fraud you may find that the clerk skims the card and then is found "shoulder surfing", or looking over your shoulder to obtain your PIN. Always hold your hand over the key pad while keying in the number.

Card security is improving and the banks are trying to stay one step ahead of the fraudsters. Computer chips imbedded in the cards, encryption and other innovations are being developed to secure these ever useful payment tools. There is no security measure better than being knowledgeable and aware. Don't let your card out of your sight and call your credit card company if you suspect anything.

If you or someone you know has been a victim of Credit/Debit Card Fraud we want to know. Contact us and take ACTION NOW!