iYogi Fraud Protection: Credit Card Fraud Happening Online

With the advent of e-retail, selling goods online and receiving payments via credit cards have become common. iYogi Alerts on credit card fraud are meant to warn merchants of the hidden dangers in online transactions and they help in creating more awareness. In credit card frauds, a person’s credit card information is stolen and it is used to purchase goods from online retailers. The retailer comes to know of the fraud only when the credit card company withholds the payment done in the transaction. The trader ends up losing their valuable goods and is fined with paybacks. The alerts advise merchants to exercise utmost caution while doing transactions online. Read more…

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A lot can happen behind your back

Sandra White, Illinois
22 June, 2011

You can easily fall prey to credit card fraud if you do an online transaction from a cyber café or from a PC that is accessed by other people. Those who are adept in dealing with software can easily find out your credit card details. Once they get to know your card details, a lot can happen behind your back. Another problem with credit cards is that in many cases, if a transaction is done using a credit card, be it online or directly, you aren”t informed about it via an SMS. You only come to know later, perhaps through an e-mail or when you receive your statement.

Don”t forget to cross-check

David Adams, Maryland
18 April, 2011

Hi! My name is David and I run a bookstore. Many of my customers place their order online. They pay through their credit cards and I have to then courier their books to them. I would like to caution all those who accept payments online against credit card fraud. Don”t accept any payment without cross-checking properly. I once found that the billing address and the real address of a customer were different. I later discovered that it was someone else, a fraudster, who had placed the order. I had a narrow escape; I would have surely suffered a loss had I not been careful.