How To Eliminate Credit Card Fraud Risk
One of the risks we all face when we have credit cards is the possibility of fraud. Somebody using our credit card to spend on their own "purchases"; it's something we all fear, and some of us experience. With credit cards, though, bills can mount very quickly, without you even knowing.
The majority of people probably never even experience credit card fraud first hand. I have had credit cards now for nearly 40 years without a single problem..........that is, until last year.
I have a credit card primarily (now solely) for internet purchases. However, just over a year ago I made a purchase by telephone; cash on delivery was not available to where I live, so I used my credit card. It was a nationally known company, so I was not too concerned about that. The problem is, even national companies employ individuals, and individuals can be, and often are, dishonest, especially if they are poorly paid.
The delivery of our "order" took place a couple of days later, and I signed the courier's slip at the door. That was a mistake. Without knowing it, I had signed a receipt for a product almost twice as expensive, and that I did not want. When we opened the package, we found we had been cheated; the girl who handled the call obviously wanted the extra commission, and presumed that I would just accept the product, and not go to the trouble of returning it to Manila. I had bought from the company before and knew their procedures, which she had deliberately breached.
I was expecting the company just to send the courier to collect the item, and I lodged a charge-back form with the bank to reverse the credit card charge. The bank told me it would be difficult, as I had signed for the goods. So, I submitted all the paperwork I had, which made it obvious the girl was cheating.
Knowing this girl was dishonest and had access to my credit card details, for both of my credit cards, I checked my statement online every day, and within a few days a fraudulent charge occurred. It had been used to buy credit for a cell phone. This time, I had no choice but to cancel the credit card, something I had wanted to avoid because of the inconvenience.
I got a quick refund for the second fraudulent charge, that was straightforward. I had little expectation of getting my money back for the product I did not want; in fact, it was 2 products, a "2 for the price of one" promotion. It was only about 3 months later, when I belatedly updated my business expenditure records from my credit card statements, that I found I had been given a full refund for that too, 2 months before. After a year, the products had still not been collected, so my wife gave one to her family and kept one for our use. With all the hassle, I thought that was the least we deserved.
My case of credit card fraud was a relatively minor one, carried out by a naive young lady who thought she had access to some easy money. There are, of course, thousands of far worse cases every day, sometimes on a grand scale.