How to Identify Credit Card Fraud
According to a 2009 report released by Unisys Security Index, issues related to debit and credit card security is a top concern for Americans. Fraud occurs when an unauthorized person gets a hold of your credit card information and makes charges on your account. It could even be someone you know. If you keep a close eye on your accounts and communicate with your credit card company regulary, you can identify and prevent fraud.
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Instructions
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Call the merchant listed on your statement for a charge you're unsure about. The credit card company usually lists the merchant name, phone number and transaction ID. Ask for more details about the transaction (including names of the items ordered) in case you forgot that you made the purchase before assuming that it is a fraudulent charge.
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Check for duplicate transactions on your credit card statement. If you notice that the same exact transaction repeats, especially if you do not recognize the merchant's name, this could be a sign that someone is fraudulently accessing your account. Keep in mind that sometimes merchants make the mistake of charging the same account multiple times, so call the merchant directly and verify before filing a fraud dispute.
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Examine the dates and locations of suspicious charges on your statement. If you notice that you have a group of charges on the same date in a city or town that you do not recognize, this is a sign that someone has your credit card (or a copy) and is using the account fraudulently.
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Check for very small charges to your credit card account that you do not recognize. Some thieves might try to make "micro-charges," which are transactions of very small amounts that you might not notice if you don't examine your statement carefully. Over time they can collect millions.
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Tips & Warnings
You can get a monthly subscription to one or all three of the credit reporting agencies. For a small fee, they will monitor your spending and let you know if there is anything out of the ordinary, or if there are any changes to your credit rating.
