Credit Card Security – Best Practices For Safeguarding Sensitive Information And Spotting Potential Scams

Posted on Saturday, August 19th, 2023 | By IndusInd Bank

Credit card scams are continuously rising in today’s digital age. Cardholders can avoid common scams by following certain safety practices and staying vigilant. IndusInd Bank offers top-of-the-line credit cards with a comprehensive suite of security features to keep customers safe from financial scams and cybercrimes.

Fraudulent activities related to credit cards are on the rise, thanks to scammers adopting increasingly sophisticated techniques. According to a recent survey, 23% of respondents experienced debit or credit card fraud in the last three years.

Cybercriminals deploy a variety of tactics, such as phishing emails and fraudulent phone calls, to illegally obtain credit card information. Once in possession of the data, they can make unauthorised purchases, transfer funds, or sell sensitive information on the dark web.

To avoid falling prey to such tactics, cardholders must stay vigilant.

Here are some credit card safety tips you could follow:

6 Credit Card Safety Tips to Avoid Scams

1. Monitor SMS and Email Alerts

Keep track of the SMS and email notifications you receive from your bank when you make a transaction using your credit card. IndusInd Bank always sends you SMS alerts whenever you do a transaction on your credit card. Review these alerts to identify suspicious or unauthorised transactions.

2. Hard-to-Guess PIN

Avoid using easy-to-guess PINs such as birth or anniversary dates, which fraudsters can easily compromise. Set a unique and difficult-to-guess PIN. Additionally, change your PIN regularly and destroy any physical documents that contain your PIN.

3. Beware of Phishing Mails

Scammers today are sending increasingly sophisticated phishing emails with what appears to be your bank’s logo, tricking recipients into considering them legitimate. If an email asks you for your credit carddetails, like your PIN or CVV, know it’s fake. IndusInd Bank will never call or email you asking for sensitive information such as PIN, OTP, or CVV.

4. Always Use a Secure Network

Another important credit card safety tip is to refrain from disclosing your credit card or account number over a public Wi-Fi network. Public Wi-Fi is often unencrypted, leaving you vulnerable to hackers. This is because hackers can intercept such networks and steal your valuable information. Always connect to a secure network before engaging in a financial transaction.

5. Only Use HTTPS Websites

For online transactions, always use websites that have HTTPS (Hypertext Transfer Protocol Secure) added in the URL. For example, the IndusInd Bank website URL (https://www.indusind.com) is a secure website.

HTTPS denotes that the site is protected and encrypts your data. This safeguards you from malicious hackers and secures your financial information when you engage in online transactions using your card.

6. Keep an Eye Out for Skimming Devices

Cyber frauds install ‘skimming devices’ on card readers, which collect card information while it is being swiped or inserted. Cybercriminals then recover the credit card data from these skimming devices and use it for fraudulent purchases. Therefore, if you ever suspect the machine is broken or misaligned, exercise caution before using your credit card; the device may have been tampered with by criminals.

Choose a Secure Banking Experience with IndusInd Bank

At IndusInd Bank, we are committed to delivering our customers a safe and secure banking experience with multiple safety features such as:

• IndusInd Bank cards come with top-of-the-line credit card security feature of 256-bit Secure Socket Layer (SSL) technology for safe online transactions.
• A range of our credit cards, like the Nexxt Credit Card, Platinum Aura Edge Credit Card, Legend Credit Card, and Club Vistara Explorer Credit Card, come with chip-based contactless payment features. This feature offers an additional layer of security to your transactions using encryption and dynamic data technology.
• Our credit cards come with a unique ‘Total Protect’ program, providing insurance coverage up to the credit limit on your card in case of any counterfeit fraud and unauthorised transactions.

To summarise, always exercise caution and follow the above-mentioned safety tips to avoid credit card scams. To get an IndusInd Bank credit card instantly, apply online today!

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.