Although the internet has, no doubt, become popular as a medium of communication for commercial organisations they can not ignore the fact that almost 90 per cent of Internet users remain concerned about credit card security. Internet fraud is expected to grow in the future in the Middle East as more consumers in the Gulf move to online purchasing. In most parts of the United States, there now exists an address verification system otherwise known as AVS online to authenticate a cardholder's identity.
Safety tips for internet use
- Credit card companies such as Visa International have a number of tips for cardholders who use the Internet. It is advisable to always ask for written information when purchasing a product on the Net rather than buying based solely on description.
- You should check the name, address and telephone of the company especially, if it is not well known and be aware that, inspite of undergoing your search, the company could still be a scam.
- You should not feel pressurised into making an immediate decision to buy the good or service as legitimate businesses will give you a fair amount of time for you to make up your mind.
- Finally, you should make sure that you read the web page of the company carefully making note of the total amount that will be debited from your card.
Back to top
To Prevent Credit Card Fraud
Shebabrata Shaha, a credit card officer at Lloyds TSB in Dubai, reminds cardholders of a few essential safety measures that should be followed to prevent credit card fraud over the Internet.
"Entries on the credit card statements should be reconciled with sales voucher receipts to ensure that the correct transactions have been processed and banks should be notified of any discrepancies immediately.
Purchases through mail order, the Internet or by the telephone should be undertaken with reputable companies.
Consumers should not be afraid of using their cards but should be responsible for ensuring that they do follow the basic security guidelines."
In addition to being aware of credit card safety, consumers should be aware of other risks -watch out for being overcharged by the company, or regularly billed for a subscription you've cancelled.
If you do run into any problems contact your bank immediately - if they won't help, cancel the credit card immediately and shift your money.
Article courtesy: Arabian Woman
Back to top