Did your Credit Card go shopping without you?

So, you take last month’s credit card statement out of the envelope, look it over and realize something’s wrong. You see a string of charges that you know you didn’t make. There are stores you don’t recognize in places you haven’t visited.
Did you just become the victim of a credit card scanner scam?
So the damage has been done, but it’s not irreversible. Most credit card companies are willing to strike the unauthorized charges from your bill and refund your money—as long as you notify them within 60 days of the issued statement. But the real question is: If the card is still in your wallet or purse, how did it happen?
So here are a few tips to Protect Yourself From Credit and Debit Card Fraud this Christmas Season
• Don’t use free-standing POS terminals in badly lit or deserted areas. These are the most likely targets for skimmer action.
• Deal directly with a teller or cashier when exchanging money. ATMs may be convenient, but you reduce your likelihood of being skimmed by avoiding them where possible.
• Be on the lookout for damaged card readers. Any evidence of tampering should be seen as suggesting a fraudster may be at work.
• Be alert for skimming devices in crowded areas. These are popular targets.
• Buy a card sleeve or RFID wallet that blocks RFID transmissions
• Stack your cards together to mitigate some of the scanner’s ability to read information
• Leave your cards at home and only use cash in public places or maybe use Apple or Google Pay
• Apple or Google Pay take the hassle out of paying for goods or services, allowing you to make quick, easy and contactless payments by holding your device near a card reader.
• No need to have your physical card, wallet or bag on you to make payments when you’re out and about. You just need the mobile device that you use every day.
• It keeps you from having to touch physical buttons or exchange cash when you’re out getting what you need.
• You can store your Bank Cards in your Wallet, including personal credit cards and all of your debit cards (including cards for joint accounts and business accounts) so no need to rely on multiple plastics.
• There is no upper limit, so you are not restricted to the current contactless payment limit (transactions over €50 may not be supported by some merchant terminals).

While proactively outfoxing the fraudsters is an admirable plan of attack, it may not always keep you safe; crooks have a way of staying one step ahead of everyone. The best protection is being doggedly aware of your spending. This means religiously reading your credit card statements every month and keeping track of your receipts as points of reference.
Happy Christmas from all at Frank Ryan Financial Services