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Credit Card Fraud

I recently fell prey to credit card fraud. A week ago, my bank called me to check if I have been to Mexico because there have been questionable charges to my credit card. What's funny is that those are card present transactions.

First of all, I have NEVER been to Mexico. Second, my teammates can attest that during those dates when the fraudulent transactions occurred, I was at work and my meeting attendance can also prove that. Third, I have NOT lost my card. In fact, I was looking at it while talking to the customer rep from the bank. Fourth, I have NEVER asked for a credit card extension on that account.

Whoever got hold of my credit card number had a field day shopping in Mexico. The transactions amounted up to $600+ in two days! Thank God for vigilant banks like mine. Otherwise, I would never have known until he/she has maximized my credit limit! I was then advised to file a police report, complete and sign an affidavit for fraudulent use of credit/debit card.

It still baffles me to this day how this happened. Friends who have had the same experience told me that someone might have duplicated my card when I went to Manila almost recently. I was told that there are groups who does that for a living, and they target foreign issued credit cards just because those have high credit limits.

I do not really know how my card was duplicated, and I may never find out. Let this be a lesson to everyone to be on guard always. Here are some of the tips I have learned from this experience:

• After travelling from foreign countries (even the Philippines), inform your banks that you have lost the card. That way, if it has been duplicated, nobody will be able to make use of it because the card is cancelled.
• Always check your credit card balance and charges.
• When purchasing items online, make sure it is from reputable cyberstores. During checkout, there should be a lock icon on the website to ensure that it is a secure site.
• Make sure your credit card is never out of your sight. When paying at restaurants, make sure they are reputable enough. If you are unsure or you are a first-timer, pay cash instead.
• Be wary of those old credit card readers where your whole credit card number is captured.
• I have also been advised that some culprits would switch your cards at checkout counters. Make sure your card is returned to you and verify that it is indeed your card and not a dummy or someone else's.
• Be careful about phishing scams which are also rampant these days. I have numerous emails being sent to me to verify my account no., address, phone no., and other pertinent information. I usually delete emails such as these but when it is coming from my bank, I usually go through their website directly. I do not trust the link that is being sent with that email.

Most credit card companies offer zero liability on fraud, but you still have to prove that it wasn't you who made those transactions. In my case, I had to file a police report.

I just hope this doesn't happen to anyone else.