Credit and Debit Card Fraud Protection (2024)

FAQs

How can I protect myself from debit and credit card fraud? ›

keep paper and electronic copies of your account statements and store them in a safe place. contact your financial institution right away if your card is lost, stolen or stuck in a machine. don't allow your computer or mobile device to remember your password or banking information like your account number.

If someone has used your card in a store or online, you're covered under the Payment Services Regulations. This means you must be refunded immediately if you've had money taken from your account without your permission. Always report the loss of your debit card, or any unauthorised payments, as soon as possible.

When a fraudulent transaction occurs on your credit card, you have lost no money. You can report the fraud, get a credit on your statement, and the issue will never affect your bank account. With a debit card, your bank account balance is affected from the moment the fraudulent transaction takes place.

If your card has been used fraudulently, you could be protected by Visa's Zero Liability Policy. This means you could get your money back.

Most credit cards come with zero-fraud liability.

Certain protections are extended to both debit and credit card transactions under federal law, but most credit cards take these protections a step further by offering their own form of zero-fraud liability.

Can they track who used my credit card? Yes. Tracking who used a credit card is often possible, especially if the fraud involved physical transactions at identifiable locations or digital transactions with traceable IP addresses and device information.

Penal Code § 484g PC makes it a crime to use a credit or debit card to obtain goods, services or money when you know the card to be fake, forged, expired, invalid, or belonging to someone else. This offense can be charged as a misdemeanor or a felony and carries a penalty of up to 3 years in jail.

The police can then investigate the matter and potentially file felony charges against the culprit. If the thief is found and convicted, the judge can order that the thief pay victim restitution; or. Filing a civil lawsuit. The victim can sue the thief for theft and fraud.

Banks often refund scammed money, but it's not guaranteed. The likelihood of a refund depends on your bank's policies, the type of scam, the payment method used, and how quickly you report the fraud. To increase your chances of recovering your money, take these steps.

Credit cards are safer than debit cards because under federal law, they provide greater liability protection if you're a victim of fraud.

Can you track someone who used your debit card online? ›

Unfortunately, you can't directly access information about who used your card. However, you should report any unauthorized transactions immediately to your card issuer, who may investigate.

Card-not-present fraud is the umbrella term for all types of credit card fraud where fraudsters make a purchase without having the physical credit card in their possession. It's easily the most common type of credit card fraud, because it's a very safe line of attack for the fraudster.

You don't get protection from Section 75 if you buy goods on a debit card – this is because they are not part of a credit agreement. However, you might be able to make a claim for a refund under Chargeback, which we cover in a section below.

The chargeback process lets you ask your bank to refund a payment on your debit card when a purchase has gone wrong. You should contact the seller first, as you cannot start a chargeback claim unless you have done this.

Fortunately, certain credit card purchases are likely to be legally protected under Section 75 of The Consumer Credit Act 1974. What does this mean? It means your credit card provider could be jointly responsible with the retailer or supplier if something goes wrong.

If your debit card becomes physically lost or stolen, you typically have two options to “freeze” and/or cancel your card: notify your bank using your mobile app¹ or call customer service. As soon as you know your card is missing, it's best to notify your bank so that you're not liable for any unauthorized charges.