Suspicious charges on your credit card? Here’s what to do

by | Feb 19, 2024 | Finance and Business

While there are ways to reduce the risks of credit card fraud, anyone can become a victim. And fraudsters are always coming up with new tricks to scam people, especially online.

If you think an unauthorized transaction was made using your credit card, or if there is a risk of this happening, contact your bank right away.

Then, you should do as follows:

  • write down what happened and how you first noticed it,
  • contact your credit card issuer to tell them about the fraud,
  • take note of whom you talked to and when you spoke to them,
  • keep all documents you think might be helpful in case of a police investigation,
  • and contact your local police service to file a complaint.

You may also contact Canada’s two main credit reporting agencies: Equifax and TransUnion. You can ask them to place a fraud alert on your file and request free copies of your credit report so you can spot and notify them of any incorrect information.

You can also report the incident to the Canadian Anti-Fraud Centre, which is the central repository for information about fraud. Reporting the situation helps law enforcement combat fraud and cybercrime.

How to protect yourself

To help you stay safe from fraud, choose a PIN that is hard to guess and don’t share it with anyone. Only use secure websites when shopping online and look for websites with addresses starting with “https” or with a padlock image in the address bar. Keep your computer firewall, anti-virus and anti-spyware systems up to date and don’t give your credit card information over email.

Another way to protect yourself is to avoid using public computers, like the ones at libraries or internet cafés, to do your banking or online shopping. If you must use a public computer, clear the internet history and cache when you finish using it.

Learn more about credit card fraud at canada.ca/money

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