It's a fact that no one wants the headache of being victimized in a
fraud related to a credit card. It could be online purchases or any use of the
card by an unknown person. It's tough to identify how it happened. Fraud could
be through data networks or retailers or any other source. But when it happens,
specific financial consultancies can help you with such fraudulently used
credit card issues.
Koda Financial Consultancy Dubai is one such agency. Sanjay Choudhary is a pioneer in finance and consultancy. He established Koda
Financial Consultancy Dubai in the UAE to help his customers with the best
legal advice related to the fraudulence of credit cards, money laundering
issues, and illegal charges. He has expertise in dealing with fraud related to
credit cards. He is best in this field with lots of experience by dealing with
several cases efficiently.
How my card can be safeguarded?
Most companies providing credit cards have designed with EMV chip. It
is a small gold or silver-colored chip that is embedded on the credit card
face. This secures your transactions and minimized such frauds. However, it
doesn't eradicate fraud issues.
Some steps or tips that can be taken when someone has used my credit
card fraudulently
Notify the issuer/company of the credit card
Inform the company which issued the credit card right away. This is
the first thing to stop any more damage to your card. This enables issue of a
new card and blocking the old one immediately.
Further investigation of the issue also starts with notification. Some
major card companies, such as MasterCard and Visa, carry zero liability. It
makes sure that you are not liable for unauthorized alterations done with your
card.
Password and PIN change
After you review financial accounts, change the necessary pins and
passwords right away. It is the best thing to do for caution. Check if any of the
accounts have been tampered or compromised. A fraudster may have got your
account information or more, so it is important to change all your PINS and
passwords of all your accounts and cards, to be safe.
Credit bureaus should be contacted
Filing a complaint with police is essential if one notices a pattern
of fraudulent charges. Freeze all the credit with significant credit card
bureaus as this avoids fraudsters to use your info to open up any new accounts.
Fraud can occur either at once or in gaps of weeks. It may appear a simple
credit card fraud, but it can lead to identity theft.
Keep an eye on your credit reports and
statements
·
Monitor
statements and reports of the credit card for a couple of months, at least to
look up for any charges.
·
Keep
checking your online accounts.
·
Remove
the stored cards used for online activities and keep an eye on constant
monitoring of your shopping and other accounts.
Anyone can be victimized to credit card fraud. But, we need to take
the necessary steps so that this fraud doesn't ruin our life. By taking some
steps and with the help of financial consultants, we can secure ourselves from these kinds of scams.
