Types Of Credit Card Fraud Abroad

Credit card fraud affect thousands of card holders each year. Many victims are tourists or expats in foreign countries. There are so many ways that criminals commit this crime.

Here are various types of fraud to be on the look out for when using your credit cards abroad.

Skimming - This is where a merchant makes a cloned copy of your credit card and then sells it on the blackmarket. This techinique takes a tech savy criminal; however, in countries like Nigeria, they are a dime a dozen.

Chargeback Fraud - This occurs when there are charges placed on your card that you did not make. Some vendors may give you a receipt that says one price; however, charge a larger amount on your card. Many tourists don’t realize this occurs until they return home and receive their statement.

Click here to read an interesting article about chargeback fraud.

Lost or Stolen Card Fraud - This is when your card is either lost or stolen and another person makes charges on the card before you are able to contact the credit card company and cancel the card.

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