New method to avoid credit card fraud

As more and more consumers stick to their credit cards to pay for everyday expenses, fraudsters are wasting no time and are finding ways to exploit failures and carelessness in using this convenient means of payment.

Do you feel safe with your credit card? Wouldn’t you rather check out the tips we posted here to prevent scams? Just keep reading.

This may happen to you. You end up on a nice day with an abnormally high account statement. You notice all kinds of expenses of which you do not know the source.

It is obvious that the date on your card has been stolen or that someone has abused it without your knowledge. But how to avoid this kind of situation? Here are seven tips to prevent credit card fraud.


The mobile payment

online loans

which has been tested for some time, is expected to grow in 2015. It is a payment method in which the buyer can pay with his smartphone. Apple also offers Apple Pay. Various banks and savings banks have come together to develop a uniform standard.

As more and more options for cashless payments are offered, consumers are skeptical about whether they are secure methods.

It can be assumed that there is a particular risk from credit cards and ID cards that work with magnetic stripes. If a hacker can read out the information on the magnetic stripe, it is easy to manipulate and use it. The complications were only recently seen in the Lesly Chaos Computer Club. It was found that even biometric recognition methods, which include the fingerprint scanner, are susceptible to fraud.


Breakthrough in security thanks to Dutch researchers

credit cards

With the help of the smallest particles, it is checked whether it is really the card holder. The card no longer has a magnetic stripe, but a small field with millions of nanoparticles on it. This field is processed with a laser by the issuing bank. The photons are arranged once on the surface and are just as unique as the fingerprint. In this way, a clear assignment to a person can be made. The area can never be copied. The researchers assume that a credit card that is equipped with such a technology cannot be cracked.The data would be destroyed even in a single attempt.

The practical thing: Not only credit cards could become unbreakable through this mechanism, but also ID cards, cars or access cards for buildings.