Debit Card Fraud: Know How to Protect Your Money from Scamsters

A debit card, sometimes referred to as an ATM card, is the foundation on which the capital of cashless transactions is built. Debit card functions similar to a credit card. You can make payments and purchases both online and offline and eliminate the need to carry cash.

In case you do need cash, you can easily withdraw it with the help of a debit card. Unfortunately, usage of this form of plastic money is now very prevalent, and with the proliferation of usage, the instrument has become vulnerable to fraudulent activities.

In debit card frauds, a person gains unauthorized access to your card or your card details and can steal your hard-earned money. There are various ways one can become a victim of fraudulent activities. One of the methods is card skimming, where a person can swipe your card details electronically using a device and gain access to your encrypted data. The fraudster then makes a duplicate card and can empty your account easily. Other methods are eavesdropping, card trapping (trapping a card using a device installed at an ATM machine), and card shimming.

Here are some ways you can adopt to protect yourself from these fraudulent activities and save yourself from losing your money:

Be aware of spam emails and messages that pose as your bank and try to get personal information and card details. In case you detect something fishy, directly contact the bank and verify any such communication.

Another way-cum-habit to have immunity from debit card fraud is to keep checking your bank accounts regularly and keep a check on all the transactions.

Try saving the receipts of all transactions you make from your debit card so that it is easy to track the sham in case such a situation arises.

Keep your personal information guarded at all times. Do not share card details with somebody you do not trust.

Do not enter your card details on third-party websites.

Avoid storing your card details on your phone or laptop.

After using the ATM machine, make sure the transaction has completely ended, and conceal your passwords while entering into the machine. An excellent way to do it is to cover the number pad with your other hand when you enter the pin.

Opt for insurance plans for card protection.

Read all the Latest Business News here