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MasterCard offers credit card security tips for fraud prevention month

March 12, 2012

It is fraud prevention month in Canada, and to create awareness about potential security weaknesses, the Canadian Anti-Fraud Center and credit card giant MasterCard have released best practices for preventing and reporting scams.

It is fraud prevention month in Canada, and to create awareness about potential security weaknesses, the Canadian Anti-Fraud Center and credit card giant MasterCard have released best practices for preventing and reporting scams.

Last year, Canadians made more than 47,000 complaints of identity theft and lost $62 million to identity theft and mass marketing schemes, according to the Nanton News.

To bring that number down, consumers can avoid common scams by regularly monitoring account statements for unauthorized activities and keeping track of credit and debit cards. Making sure to keep credit card and PIN information private can help prevent theft, and consumers should not share that information over email or text message.

Updating or installing anti-malware, anti-spam and firewall software on home computers can help prevent hackers’ attempts at security breaches.

Phishing scams can be avoided if customers avoid making purchases on websites that seem suspicious. MasterCard also advises that consumers stay skeptical about unsolicited emails, text messages and social media messages that ask for payment card or personal information. The company also advises that consumers closely examine links in emails that are from an unknown or invalid source. If a person follows a link to a website and becomes suspicious after entering credit card information for online credit card payment processing, they are advised to immediately contact their card issuer to prevent losses.

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