If you are a victim of credit card fraud, you may be wondering where and how your card was compromised. While it may be challenging to catch up with the fraudsters immediately, it’s crucial to understand what to do next to avoid further hurting your financial reputation.
The key to reducing and preventing credit card fraud is detecting suspicious activity early and acting immediately. If you have been a victim of credit card fraud, it is essential to reach out to a New York FCRA attorney to understand the available legal options as soon as possible.
Credit card fraud is identity theft, where an unauthorized individual takes another person’s credit card information to withdraw funds or make purchases. Fraud can happen via the theft of the victim’s existing credit card, account number or PIN, or using a new credit card opened under the victim’s name without their knowledge.
While credit card issuers continue to develop new security measures to minimize unauthorized card access, fraudsters keep devising new ways to bypass these measures. Credit card fraud will cost you money in the long run and can damage your credit score or reports.
In addition to stealing your hard-earned money, fraudsters can gain access to your date of birth, name, social security number, or address to manage your bank accounts. In doing so, they can borrow loans and apply for unemployment benefits, tax refunds, and social security checks.
Some of the most common types of credit card fraud include:
Some of the simple steps you can take to avoid credit card fraud include:
If you are a victim of credit card fraud, the FCRA attorneys from Mizrahi Kroub LLP can help correct your credit report. Contact us to get a free case evaluation and discover more about how we can help dispute the errors on your credit report.
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