Credit card theft is an overall inclusive term for fraudulent activity committed via a credit card, for example, a credit card or debit account. The usual motive might be to gain illicitly Acquired goods or services, including cash or any other item of value.
There have been instances when people have been reimbursed thousands of dollars to their credit card issuers and financial institutions, simply because they have been victims of credit card theft. There have also been instances when individuals have been fired from their jobs or had their benefits withheld because they have been victims of fraud. You are wrong if you think you are safe from hackers if you have a credit card. You should take precautions to protect yourself from fraud due to the increasing federal laws that prohibit this type of activity.
Credit card theft can occur in two ways: users with compromised identity and fraudulent users. A user with compromised identity is someone who has used an online credit card to make transactions but has been the victim of fraud. These include stolen bank account numbers and stolen social security numbers.
On the other side, fraudsters are those who don’t have bank accounts and buy everything with cash. This user could be someone hiding his true identity behind several fake identities. If you are a victim to credit card theft, the first thing you should do is to notify your credit card company as well as the Federal Trade Commission. You need to let them know how much money you lost and how you were a victim of this type of crime.
You can learn more about the zero liability policies many credit card issuers have in order to protect yourself from criminals. You will not be sued for any damage you suffer as a result. In other words, if you are involved in credit card theft and you report it to the company, they will not be able to hold you responsible for any losses that you incur.
Zero liability means that if you are not at fault for anything that happened during the time that you had your cards, you will not have to pay any fees for unauthorized charges made or fraudulent transactions made. This can save you time and money, especially if your card has been stolen. You can find out more information about these policies by contacting your credit card company, or visiting the FTC website. You can request a sample credit file that will help you assess your risk of fraudulent charges and other credit card fraud. Also you can buy a rfid blocking credit card wallet on this specialized website here to prevent being a victim of credit card theft by contact.