The Top Eight Tips for Preventing Fraud and

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Protecting your Personal Information during Marc, which is Fraud Prevention Month

By A Correspondent

Canadians continue to embrace electronic payments and rely on the convenience, flexibility and security of credit cards. During Fraud Prevention Month, MasterCard, a leader in safety and security of payments, is offering consumers tips on how to protect and safeguard their credit cards. Today 88% of face-to-face transactions in Canada are Chip & PIN or contactless, and thanks to the layers of security built into the MasterCard network, Chip & PIN and contactless are safe and fraud rates for Canadian face-to-face transactions have sharply declined.  

While consumers should feel safe using their card all the time, they can further protect themselves by remaining diligent and taking precautions. Here are a few simple tips: 

1.     Don’t underestimate the strength of strong passwords. Make them complex with upper case, numbers and symbols and change them from time to time.  Use different passwords for different purposes and ensure you have a means to recover passwords, where applicable, such as a separate registered email address.

2.     Shop with confidence online and visit reliable websites. eCommerce makes shopping more convenient than ever, but consumers should do their homework. Look for the SecureCode symbol  from MasterCard at checkout, which adds a layer of security and ensures you are who you say you are online.

3.     Be skeptical of unsolicited phone calls, email, text messages, or social media messages if they request credit card data or personal information such as passwords, date of birth, social insurance number etc.

4.     Do not click hastily on links contained within emails or on any email attachments sent by an unknown or un-validated source no matter how harmless or familiar the title appears. Instead delete the message unless you can confirm the sender.

5.     If you followed an email link to a website (or a text message to a voice recording system) and provided card data that later seemed suspicious, contact your card issuer immediately so your account can be protected

6.     Always use Chip & PIN, and tap to pay where applicable. You should be the only one with knowledge of your PIN number, and shield it from sight at checkout.

7.     Keep an eye on your card statement. Sign up for online/e-statements and check regularly to make sure an unauthorized purchase was not processed. If you notice something, call your bank immediately. The number is always on the back of your credit card.

8.     Be informed; know the facts about the layers of security built into your card’s payment network. 

MasterCard works with the Canadian Anti-Fraud Centre and other organizations to ensure that safety and security of consumers is at the heart of its payment technologies. Every MasterCard cardholder is protected under the Zero Liability Policy which protects consumers from unauthorized fraudulent purchases in-person, or online. Cardholders are encouraged to read through their bank cardholder agreement to better understand the details of the policy.

JULY 2018

Vol. 12 - No. 12


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