Michael Newman’s latest é-Wealth Daily’ article is titled “How to Catch a Fraudster”. [‘e-Wealth Daily’Article]

Michael Newman’s latest ‘e-Wealth Daily’ article:

How to Catch a Fraudster

Credit card fraud is something that can happen to anybody at any time, even you. Obviously, when it comes to defending yourself from credit card fraud, your options are fairly limited. After all, no matter what kind of security fortress you’ve built for yourself, there will always be a thief out there who’s found a way to penetrate it.

Of course, you can protect yourself by being selective about what online retailers you do business with. Make sure they have a secure site and have an updated secure payment system. If it doesn’t look legit or safe, don’t use it. Just because it’s on the Internet doesn’t mean it’s safe.

Therefore, the best way to protect yourself from the financial troubles that can arise from credit card fraud is to always be aware of your credit cards’ activity. That way, if you notice a problem, you can deal with it quickly before any further trouble arises.

To do this, hold onto your receipts and review your credit card statement online at least twice a month. If you really want to keep a close eye on things, you can follow it one a week or as often as you’d like. Make sure all the charges match up to your receipts. If there are any charges that don’t line up or that look suspicious, contact the business that has made the charge.

When you call them, tell them that you don’t recall making the purchase and get the details of it. There will probably be a discrepancy in the shipping address (if it was an online retailer) and the company will likely refund the amount immediately. For compromised cards that are being used as replicas in real retail outlets, do the same thing. In these instances, however, it may take a few days to get your money back, as an
investigation may be launched.

Once you’ve contacted the retailer, immediately contact the credit card company. They will likely suggest you cancel the card. Don’t worry, they will send you another one immediately. Also, they will tell you to continue to monitor your account to ensure the retailer refunds the amount they said they would. If they don’t, you can likely count on your credit card company to open an inquiry with the business to get your money back.

Finally, take the final step of ordering a free credit report from one of the three credit bureaus: Equifax, Experian or TransUnion. This is important because if the thief had your billing information, it’s possible they could have opened up another credit card in your name. If they did, it will show up on your credit report and you can shut the account down.

e-Wealth Daily

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The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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