Tuesday, January 28, 2014

Forbes Living TV and The 9.84 Fraud Alert

Credit card fraud is nothing new, but the amount of fraudulent claims is. More major retailers are reporting security break-ins. There is another new claim to be aware of and it entails a small charge to your credit or debit card of $9.84.

Forbes Living TV learns that the Better Business Bureau issued a fraud alert for consumers who see the above small charge show up on credit and debit account statements. It will often appear with the wording “customer support” or identify itself as any number of different websites. If you see the charge on your account, call the card issuer and report the charge as fraud.

The investigative blog KrebsOnSecurity, the first one to notice this type of fraud, dug into the $9.84 charge and found that it led them through a maze of more than 230 websites stemming from London, India and Cyprus.

As we have mentioned before, monitor all credit and debit account statements regularly for charges – no matter the dollar amount. As was the case this time, the small charge is the first sign of credit/debit card fraud. Thieves will often charge small amounts to test the card first, before trying to charge something major to it. Forbes Living TV encourages readers to be vigilant about their financial accounts. Be proactive when using cards in stores. Switch buying purchases from a PIN request to a signature request. This is more secure than quickly keying in a four digit PIN. Be aware. Be alert. And report anything suspicious.

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