Tuesday, August 8, 2017

How to Protect Your Credit Card from Cloned?

Following the recent case of an employee at a cafe in Delhi stealing money using cloned credit and debit cards, the fear of cards being cloned for financial theft has resurfaced & the focus is back on how secure your credit cards are and what you can do to ensure they don’t get misused. 

A similar incident took place last year with an employee at The Quint as well, where her ATM card was cloned and money was withdrawn. It is imperative that you never let your card out of your sight, especially at restaurants while paying the bill. If the waiter swipes it away to the billing desk, there’s a chance that it could be run through a card-cloning scanner on the way. 

Protect Your Credit Card from Cloned

One must insist on the restaurant bringing a mobile point-of-sale device to your table for the payment or walk over to the billing desk and swipe the card yourself. Most banks now issue credit cards and debit cards with chips in them that are more secure than the simple cards with a magnetic strip on the back. The chip-based cards require a personal index number or PIN to be entered on the point-of-sale (POS) terminal that makes them less likely to be cloned.

It is also important to sign on the back of the card, something most of us do not give any importance to. When you get a new credit or debit card, always remember to sign on the back of the card as this will help a seller verify that the card being used belongs to you. 

Last but certainly not least, never share your PIN number with anyone. Keep changing the number every few months to prevent any misuse. It is perfectly safe & convenient to use debit & credit cards to make payments at various point of sale terminals, if some of the aforementioned basic safety features are kept in mind.

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