Credit Card Security – Protecting Yourself from Fraud and Identity Theft

Posted on Monday, August 21st, 2023 | By IndusInd Bank

Credit cards are a convenient and secure way to make payments, especially in the digital age. However, they also come with certain risks, such as fraud and identity theft. Fraud happens when someone uses your credit card information to make unauthorised purchases or withdrawals unless you approve of it. Identity theft occurs when someone uses your personal information, such as your name, address, date of birth, or social security number, to open new accounts, apply for loans, or commit other crimes in your name. 

In the year 2021, 3,432 cases of credit and debit card fraud were reported from across India, up by nearly 20% compared to the previous year, according to a National Crime Records Bureau report. These statistics show that credit card security is a serious issue that needs to be addressed by both consumers and credit card issuers. 

At IndusInd Bank, we care about your safety and security. That’s why we offer a range of credit cards that come with various features and benefits to protect you from fraud and identity theft. Here are some of the ways we help you safeguard your credit card and personal information: 

• Contactless feature  
  Some of our credit cards have a contactless payment feature that allows you to simply tap your card on a payment terminal to complete a transaction. This reduces the risk of skimming or cloning your card by avoiding physical contact with the card reader. 
   
• Chip and PIN technology 
  All our credit cards are equipped with a chip and PIN technology that provides additional security during transactions. The chip stores your account information securely and the PIN authenticates your identity. In case your card is lost or stolen, no one will be able to use it illegally. 
   
• Total Protect feature 
  Our credit cards come with a one-of-a-kind Total Protect feature that covers you for any unauthorized transactions in case of loss or theft of card. It covers you for a sum up to the credit limit of your primary and add-on cards. 
   
• Online security 
  We use advanced encryption and authentication methods to ensure that your online transactions are safe and secure. We also provide you with features such as One Time Password (OTP) to prevent unauthorized access to your account. 
   

• Mobile security 
  We also offer you the convenience of managing your credit card account through our IndusMobile app or net banking. You can view your transactions, pay your bills, block or unblock your card, request for a replacement card, and more through these channels. You can also use phone banking to report any loss or misuse of your card. 

As you can see, an IndusInd Bank credit card offers you multiple layers of security to protect you from fraud and identity theft. However, you also need to take some precautions on your part to ensure the safety of your credit card and personal information. Here are some tips to follow: 

• Do not share your credit card with anyone and keep it in a secure place. 
• Memorize your PIN and do not write it down anywhere or disclose it to anyone. 
• Check your statements regularly and report any suspicious or unauthorized transactions immediately. 

• Do not respond to any emails, calls, or messages asking for your credit card details or personal information. 
• To protect your online accounts, use strong passwords and change them frequently.  
• For online transactions, it is recommended that you do not use Public and Unauthorised Internet Access Networks. 
• Update your contact details with us so that we can alert you in case of any suspicious activity on your account. 

By following these simple steps, you can enjoy the benefits of using an IndusInd Bank credit card without worrying about fraud and identity theft. 

So what are you waiting for? Apply for an IndusInd Bank credit card today and experience the convenience and security of our services. 

Apply Now 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.