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FOREIGN EXCHANGE |
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| As of May-24-2013 |
| CURRENCY |
BUY |
SELL |
| US Dollar |
41.3000 |
41.8500 |
| Japanese Yen |
0.3859 |
0.4177 |
| Euro |
51.4900 |
55.2200 |
| Hong Kong Dollar |
5.1200 |
5.4200 |
| Bahrain Dinar |
104.3700 |
111.7100 |
| More |
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T - BILLS |
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Treasury Bills
Auction Date: 6 May 2013
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91-DAY
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182-DAY
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364-DAY
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High
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0.500%
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0.500%
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0.750%
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| Low |
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0.200%
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| Average |
0.217%
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0.398%
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0.602%
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Ave. Inc.(+)/Dec. (-) over the past week
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0.177% |
0.182%
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0.295%
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| CREDIT CARD SECURITY < ONLINE BANKING SAFETY REMINDERS < ONLINE BANKING |
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CREDIT CARD SECURITY
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Credit card theft and fraud come in many forms/ways. It is inevitable that this might happen to you or maybe, it has already happened to you. Although you have taken the necessary precautions, there is never a guarantee that none of them will ever happen to you but if you are careful and know how to protect your credit card, it is less likely that you will become a victim of credit card theft and fraud. Following are tips to lessen the risk of credit card theft and fraud.
How to Secure Your Credit Card
1. Never disclose credit card information to anyone. The fraudulent use of credit cards is not limited to the loss or theft of the actual card. A capable criminal only needs to know the credit card number to fraudulently make numerous charges against your account.
2. Sign all your credit cards as soon as you received it from the issuer. Unsigned credit cards may fall into the hands of people who could use their own signature to purchase goods and services.
3. Like ATM card PINs, secure credit card PINs. Do not keep those numbers or password in the wallet or purse and never write them on the card itself, post-it note, envelopes, sheet of papers, etc. Things get even worse when those who have your cards know your PIN as well. As a safety measure, never write your PIN on anything, where it can be easily seen.
4. Don't disclose your PIN to anybody, including friends and relatives. Your card is your personal property (and responsibility), so even if you have friends and relatives whom you trust absolutely, it is none of their business to know your PIN.
5. Do not lend your credit card. Again, your credit card is your personal property and responsibility, so you must not lend it to anybody else, no matter how close he or she is to you. Your credit card is an important document and you need to keep it private.
6. Photocopy both the front and back of all credit cards and keep the copies in a safe and secure location. This will facilitate in the immediate cancellation of the card if lost or stolen.
7. Carry only the minimum number of credit cards actually needed and never leave them unattended. It is much better to keep the cards you use rarely somewhere safe than to carry all your wealth in your purse. If your purse gets stolen, you lose everything.
8. Never use credit card number as reference or as an identification card.
9. Never give your credit card account number over the telephone unless dealing with a reputable company or institution. You should have been the one to initiate tje call to the credit card company. Also, remember that your credit card company will never call you to ask for your credit card details.
10. Don't respond to scam emails and don't visit suspicious sites. Emails and phone calls that will ask for your credit card number should always be avoided. Also, never answer e-mails that tell you to go to a site and verify your information. And never go to sites that tell you that you need to confirm/reenter/change/verify your credit card information. Legitimate organizations will never ask their customers for this information.
11. Do not leave documents like bills, bank and credit card receipts/statements in an unsecure place since these documents have credit card and/or deposit account information. Consider shredding sensitive documents instead of simply throwing them away. Some people will go through the garbage to find this information.
12. Notify the bank in advance of a change in address. If you will change your billing address (home, office, etc.), notify your credit card issuer in advance because they will start mail your statement to your billing address, where somebody else will get them and might open them.
13. Open/read billing statement promptly and reconcile card amounts each month. Checking your monthly statement is one of the most powerful tools against credit card fraud. Although, your card is not stolen, you can still be charged for unauthorized transactions, if you have not noticed them and reported to the issuer.
14. Do not let other people use your card. If card is lost or stolen, report the incident immediately to the issuer. (Allied Bank MasterCard Toll Free: 1800.10.818.9818)
15. Shred all credit cards that you do not use anymore (e.g. expired/for cancellation etc.). Besides unnecessary documents with your credit card number on them, another piece that needs shredding before is disposing the credit card itself. Shred all cards that you are not using anymore before throwing it away.
16. Make a list of your credit card numbers and the telephone numbers that you should use to report lost or stolen cards. Keep the list in a safe place, away from the cards.
17. Check your card expiry date. If a replacement card has not arrived at least one week before your current card expires, contact the issuer to find out why.
When Using Your Credit Card
1. Keep a constant eye on your credit card every time you use it. Be aware of the "swipe and theft" scam using card skimmers. Make sure you get your credit card back as quickly as possible after each transaction to avoid being victimized by "skimming" fraudsters. A skimmer is a machine that records the information from the magnetic stripe on a credit card to be downloaded onto a personal computer later. The card can be swiped on a skimmer by a dishonest person and that data can then be used to make duplicate copies of the credit card.
2. Do not sign credit card slips without an amount.
3. Avoid entering credit card information when using public computers, such as those in internet cafes, or when using websites that are not secure. Secured websites will have a URL of "https" instead of "http" and will display a padlock icon at the bottom right corner of the web browser.
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What is Credit Card Fraud?
It is a wide-ranging term for theft and fraud committed using credit or any similar payment mechanism as a fraudulent source of funds in transactions.
The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit Card fraud is also an adjunct to identity theft.
What are those and how it is done?
Theft of the card. It is physically stolen from your bag or wallet, or home, and an impostor pretends to be you to obtain goods or services.
Counterfeiting (also called skimming). An employee of a shop like a gasoline station, or restaurant puts your card into an electronic skimming device and steals your card details before returning your card.
Phishing. A phisher may send to the card holder an e-mail that looks as if it comes from the credit card company, asking him to log onto a web page (which purports to be the credit card company's site but is actually set-up by the phisher) and enter passwords, account numbers and other personal information.
Pharming. This new technique is one of the most dangerous of them all. Pharming involves a malicious perpetrator tampering with the domain name resolution process on the internet. By corrupting a DNS (Domain Name System), a user can type in the URL for a legitimate financial institution and then be redirected to a compromised site without knowledge of the changes. Unaware of the background predators, the consumer types in their bank account details or credit card number, making them the latest victim of fraud.
Credit Card Generating. Criminals use the numbers the credit card generator creates and either test them to see which one are valid or use a printer to make fake cards. They then find a place that accepts credit cards but has no capacity to validate them.
Dumpster Diving. This shameless act refers to a process in which an individual vigorously sifts through someone else's trash in search of personal and financial information. With a mere credit card approval that contains a name and address, a criminal can easily open up a credit card in your name and accumulate substantial debt in no time.
How do thieves get your credit card information?
- When your credit card gets into the hands of a dishonest employee of an establishment while he is processing the payment bill.
- When you provide the account information through the mail, phone or Internet vendors and unauthorized persons gain access to it.
- When you respond to fraudulent e-mail or input the information on a phony website.
- Whenever a merchant's database is breached, or hacked into, and your account information together with those of thousands of other people's, are taken.
- When your account information is purchased from a person who stole the said information.
What are your card's security features?
Credit Card Account Number - the 16 digits embossed number on the front of the card. It should appear clear, clean and uniform and should always match card number printed on the sales receipt.
Bank Identification Number - the four number below the 16 digits embossed account number. It is the first four numbers of the 16-digit account number, if this numbers do not match, the card is counterfeit.
3-Dimensional Hologram - of the card network/association (e.g. Visa, MasterCard) - should reflect light and seem to change when you rotate the card.
Card Verification Code Value - the last three digits on the signature panel of the credit card. This number is always asked when doing online payment transaction. If the number is given to the vendor incorrectly or is not available, the merchant may not process your order.
Magnetic Stripe - a stripe of magnetic information that is affixed at the back of the credit card. This stripe contains customer and account information that are required to complete electronic financial transactions.
Signature Panel - where your signature is affixed. A card is not valid unless this is signed.
Source: www.bsp.gov.ph
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