Credit Fraud Detection Methods  

Credit card fraud is one of the most common kinds of cyber crimes that are eating away into the consumer economy. Whenever there is a credit card theft, the person goes through several problems including some dents on their credit reports. The most common medium of credit card fraud is the internet. People are used to shopping on the web because it is convenient and also the deals are always better on the internet. Also, hundreds of users store their financial information on the website that they visit frequently.

There are some internet based companies that have vigilant security systems and also people like network administrators watching the activity through out the day. However, sometimes, even the best security systems fail in safe guarding the information because of the people who hack the networks get smarter. In these cases, technology fights technology.

Banks and online shopping companies are now depending on fraud monitoring methods. For instance, a bank will send you a notification as soon as a charge has been made on your credit card and if you have not made the charge, then you are in a position to call the bank immediately and report the fraud. The credit reporting agencies are also following similar rules where they immediately send a message to the customer when they notice changes in the pattern of payments. Also, now you can access your credit report frequently rather than annually for nominal charges. Credit reporting agencies also send alerts through emails when a new account is opened using your account or when your credit report is accessed by a credit card company.

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Credit Fraud Detection Methods

How-Do-I-Add-A-Fraud-Alert-To-My-Credit-Report      You can easily set up a fraud alert for your credit card using the credit reporting agencies. It helps you in several ways in order to safeguard your information. The credit reporting agency will send you alerts whenever your credit information has been accessed by anyone. This lets you know if there is someone misusing your information to open a new credit card account. More..




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Credit Fraud Detection Methods )
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