In modern society, credit cards have become an indispensable payment method in daily life. In addition to convenience and speed, credit cards also provide overdraft, points, installments and many other conveniences. However, the widespread use of credit cards has also led to an increase in various types of fraud cases. From telecommunications fraud to credit card fraud, victims often unknowingly accumulate a large amount of debt. Many cardholders are worried about how to defend their rights in the event of credit card fraud.

Common Credit Card Fraud

Telecommunications and Internet fraud

Fraudsters will impersonate bank customer service, public security organs or courier companies, falsely claiming that the cardholder is suspected of money laundering or credit card theft, and then using "freezing accounts" or "security checks" to trick the cardholder into transferring money.

Card theft and cloning

Criminals steal magnetic stripe information or embed “card readers” to clone credit cards, and then use those cards to withdraw cash or make purchases at point-of-sale cash registers. In some cases, fraudulent transactions even extend overseas, meaning that money is long gone when the cardholder realizes they have been cheated.

Fake online shopping.

Scammers build fake shopping websites that trick consumers into entering credit card information and then steal their card numbers and passwords for shopping. Applying for a credit card in someone else’s name

Criminals use someone else’s identity to apply for a credit card at a bank and then disappear after the account balance runs out, damaging their credit history and putting them at legal risk.

"Point Exchange" fraud

The fraudster will promote "credit card points can be redeemed for cash or gifts" through SMS and telephone calls, induce the cardholder to enter the card number and verification code, and finally complete the transfer of funds.

Common Mistakes After Being deceived

Many victims often make the following mistakes when they are aware of a problem with their credit card:

Silently bear the loss: believe that the loss is not large or avoid trouble, so as to accept the loss.

Insufficient or insufficient evidence: It is not until the day of the bill that the problem is realized, and the opportunity to recover the loss is missed.

Blindly relying on “third-party rights defense companies”: Some illegal agencies will use this opportunity to claim that they can help you recover funds and charge high fees to try to cheat again.

These misunderstandings often lead cardholders to miss out on the opportunity to defend their rights and fall into a more serious predicament.

Third, the rights protection steps after the credit card fraud accident

Contact the card bank immediately.

If you find a suspicious purchase or stolen card transaction on your credit card, please contact the bank's customer service hotline immediately, freeze your account, lose your card and file a transaction objection. Some banks offer a “zero-responsibility” policy, which may be compensated if you can prove that the transaction was not initiated by you.

Preservation and collection of evidence

This includes text messages related to transactions, bank statements, receipts, chat logs with scammers, screenshots of fake websites, and more. These will provide important evidence for the police case and the bank investigation.

Immediately call the police.

Report the case to the local public security bureau as soon as possible and provide complete evidence. Police may be able to track the relevant parties and recover funds through the flow of funds and network traces.

Complaints to the China Banking and Insurance Regulatory Commission (CBIRC) or Consumer Association.

If the bank mishandles or evades responsibility, you can complain to the CBRC or the Consumer Association, asking the bank to fulfill its risk management obligations and safeguard the rights and interests of the cardholder.

Seek legal ways.

If the amount of fraud is large or there is a liability dispute, it is recommended that you consult a lawyer and file a civil lawsuit with the relevant responsible party or institution.

Fourth, credit card fraud prevention practical skills

Protect your personal information.

Do not enter your ID number, bank card number or verification code on an unknown website or application. If you receive a phone call or text message related to funds, please verify through official channels.

Set up a trading alert.

Receive real-time SMS or app notifications for each transaction. If you notice any suspicious activity, immediately freeze your account to minimize your losses.

Be careful when using public networks.

Avoid using public Wi-Fi for online banking and payments to prevent hackers from stealing your information.

Change your password regularly and register your phone number.

Avoid using simple combinations, such as your date of birth and phone number; use a complex password. If you change your phone number, please update your bank information.

Pay attention to your bank’s “zero responsibility” policy.

Most banks have a zero-responsibility policy, and unless the cardholder is grossly negligent (e.g., putting the card number and password together), the bank is not responsible for transactions initiated by non-carcerers. Understanding these policies can help you better protect your interests in the event of fraud.

V. Conclusion

Although credit cards are convenient, there are also hidden dangers. Fraudsters use a variety of means. However, cardholders can significantly reduce the risk of fraud by increasing awareness and caution about using credit cards. If you do experience fraud, freezing accounts, alerting you, preserving evidence and taking legal action is the right thing to do to minimize your losses.

Preventing credit card fraud is not only related to personal financial security, but also related to the stability of the social and financial order. Keeping yourself financially safe is essential for every cardholder.