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Holiday Shopping: How to Avoid Credit Card Fraud 

By: Grayson Ramsey

close up of hands using laptop and holding credit card  as Online shopping concept.jpeg

Gone are the days of thumbing through a catalog, scoping out potential purchases, and scavenging around the local shopping mall on the search for holiday gifts. The ease with which one can have a gift show up on their doorstep with only a few mouse clicks and keystrokes has enabled online shopping to become so pervasive in everyone’s holiday routine. With more online shopping comes more uses of credit cards and thus an uptick in credit card fraud as well.

Many credit card companies will provide alerts to their customers if suspicious activity occurs. Companies accepting credit cards can protect themselves by using anti-malware software and other firewalls, protecting everything from their point-of-sale systems to their internet server and networks they store private information.

Interestingly enough, the spike in online shopping has coincided with a spike in consumers making purchases via their mobile devices. A study by Forrester found that smartphones will be used in over one-third- or more than $1 trillion- of the total U.S. retail sales at some point in the process of buying something in 2018. This is a significant number when you consider the volume at hand. With consumers using a variety of mediums to do their online shopping, identity verification is more and more necessary. Ensuring that the credit card information is transmitted safely from consumer to seller and that the integrity of the data being used is maintained, is essential in preventing credit card fraud. Companies can make sure everything checks out by implementing programs that check to see if the IP address of the purchase matches the address listed for the credit card holder. Though, integrating strong website security is the best way to stop online fraud attacks from happening.

For consumers and businesses, avoiding credit card fraud is sometimes as simple as keeping track of your belongings. Included in this sentiment is shredding receipts and bank statements, as well as making sure to keep track of one’s cards and other self-identity items. As far as protection while shopping online, utilizing firewalls and antivirus protection software will help to keep out unwanted parties during transactions.

The luxury of being able to do all your holiday shopping from the couch is great, but with it comes an added element of vulnerability in which hackers can lurk, Credit card fraud is preventable, and some measures can be taken if it does occur, both from the company and the customer’s side, it is all a matter of making an effort to fortify security on both of these ends and being diligent in cleaning up the mess these frauds can create.

Security on your network is a layered approach there is no one security feature which is going to protect you from the evil guys. To learn more about the first line of defense towards cyber security click here.

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