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Check your wallet

Check your wallet

Check your wallet The RCMP want citizens to be aware of the dangers of credit card and debit card fraud.

Credit and debit fraud can happen to anyone. Your card could be lost or stolen and used to purchase goods and services; card data could be used to make a counterfeit card; or the data could be used to make telephone or internet purchases (also referred to as “card not present” fraud).

“Chip and pin technology has helped to enhance security of payment cards, but potential fraudsters have adapted their methods of operation,” explains Sgt. Tom Murdock, Nova Scotia Commercial Crime Section. “This is why Nova Scotian’s should be aware when using credit and debit cards. If you have a chip card, always try inserting it first rather than swiping as it reduces the risk of having the data on your card’s magnetic stripe stolen.”

Nova Scotia RCMP offer these tips to help prevent you from becoming a victim of credit card fraud:

– Never give out any personal information or data over the phone.

– Shop only from your home computer. It’s much safer than shopping at a terminal in an internet café or library.

– In many instances chip and pin technology can often be bypassed, by using that Card Verification Value (security number on the back of the card). Never share this number.

– Monitor your bank and credit card statements on-line. Electronic statements allow you to review your purchases and payments instantaneously.

– Never give out your social insurance number, date of birth or driver’s license number in response to an email or seller.

– If an offer sounds suspicious or too good to be true, it probably is.

– If you’re concerned that you’re a victim of fraud, immediately call your financial institution or credit card company.

In 2010, approximately 205,200 compromised debit accounts were reported in Canada, amounting to $119 million in financial loss. That is why the RCMP want to help people protect against credit card and debit fraud.

March is Fraud Prevention Month, and police want to encourage people to learn as much as they can about these and other types of fraud, because one of the best ways to protect against fraud is to learn how to recognize it.

For more information on credit card fraud prevention, www.rcmp-grc.gc.ca/scams-fraudes.

Source: http://www.bedfordbeacon.com/check-your-wallet

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