Credit card fraud is rife across the world, with criminals operating many different scams and techniques to get hold of your details.
2014 Stat:
a. 250 million+ number of compromised credit-card for online sales
b. 60% proportion of credit card fraud that involves card not present.
3. Rise in “Card not present” fraud since 2011.
The common fraud tactic:
1. Card not present – fraud occurs when neither the cardholder nor the card are present during a transaction. The rise of online shopping making it easy to target by fraudsters, because online transaction can be done without card holder acknowledgement.
2. Phishing – Scammers acquire card information by sending suspicious email to card holder. Most often is linking to a fake website that looks legitimate website like bank, they will ask user to fill up card detail and security pin.
3. Skimming – This is a card ID theft method, when user place their card into illegitimate card reader, or use a hidden cameras to record card holder detail and pin.
4. The courier scam – fraudsters flagged a fake fraudulent transaction on your card. Then they request user to handover their card into envelop, a genuine courier will collect the envelope and delivered to fraudsters to withdraw money.
Global Fraud Monthly Briefings

Plastic card victimisation increases with higher household income