5 ways to stay safe from online fraud while using credit cards

Online fraud has increased in India in recent years. For example, according to a recent Reserve Bank of India (RBI) report, the number of bank fraud cases doubled in the fiscal year 2020-21, despite the fact that the sum involved in the cases was half of what it was in the fiscal year 2021-22. According to the study, the overall number of fraud cases in FY22 was 9,103, up from 7,359 in FY21.

Here are 5 ways to secure details and to stay safe from scams

1. Customers should avoid entering their credit card information on questionable websites since the information might be stolen. Check the URL for 'https' to ensure that the website has an SSL certificate. SSL certificates are not used on insecure websites.

2. Nowadays, it's critical to have your credit cards near at hand. You should also be cautious about thefts, especially while travelling by public transportation. After taking your cards, thieves can utilise the credit card's tap and pay feature to purchase lower-priced items.

3. Credit card customers should keep an eye on their credit card statements for unauthorised transactions. Cardholders can also use the practise to check for illegal charges or fines made by the bank.

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4. Many credit card providers provide a feature that allows clients to disable offline, internet, or foreign transactions. You may utilise the option to limit your transactions and avoid incurring losses.

5. Many credit cards have a fraud protection plan that protects your money in the event of any fraudulent activity. Cardholders can also purchase supplementary insurance to protect their credit cards against fraudulent use.

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