Paying with cash is becoming increasingly restrictive and outdated. Chip cards with PINs, contactless cards and smartphone payments are just some of the ways you can now purchase things in store or online. So how can you benefit from these new technologies while still managing security risks?
Your bank is there to protect you
Banks today take important steps to protect their customers and minimize credit card fraud. They can automatically detect suspicious or unusual activity on your account in order to stop fraud in its tracks. For additional security, you can subscribe to an alert service that will notify you by email or text if an unauthorized transaction is made with your card. Credit cards with chips are now a reliable method of payment and the technology is secure when you’re vigilant.
Consult the FAQ section on Smart Cards on your bank’s website to find the answers to all of your questions.
What YOU can do
- Follow the tips below to reduce your risk of becoming a victim of fraud.
- Only perform transactions with trusted companies and on secure websites.
- Use virus and malware protection software.
- Never provide your credit card information by email.
- Check your monthly statements regularly.
- Never provide personal or banking information by phone or email to someone you don’t know.
- Avoid using credit card readers that look strange or suspicious. They may have been tampered with to intercept, save and copy your information.
Purchase online with peace of mind
Before making an online purchase, be sure to verify the identity of the merchant by checking their website, address and phone number. You can even read comments left by previous customers to spot a fraudulent merchant.
To make sure your payment is secure and your data remains confidential, check that the website address starts with ‘https.’ The ‘s’ indicates that the site is secure for transactions. In addition, a closed padlock or key should appear on the address bar of your browser.
When in doubt…
If you notice a transaction on your card that wasn’t made by you, or if you suspect that someone may have accessed your credit card information, call the number on the back of your credit card right away. The issuing bank will then take the appropriate measures to protect you.
Thanks to advances in technology, security is improving every day. But you should still exercise caution when you go online. Keep your eyes peeled to make sure you stay protected!
Malware: Malware, or malicious software, is designed to infiltrate your computer and mobile devices to perform unauthorized activities.
Phishing: Phishing, also known as email fraud, is an attempt by a criminal to get you to reveal your personal information, or to install malware on your computer or mobile devices, by using emails that lead to fraudulent websites.