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What Payment Alternatives Can Help Prevent Credit Fraud?

If you have been the victim of identity theft, you know the difficulties that can come from this process of trying to prove who you are and what you actually owe. The last thing you want to happen is for fraud to cripple you again. But what payment alternatives can help prevent credit fraud? What can you do to prevent becoming a victim again?

First, know that if you have been the victim of identity theft, you must take steps to get legal help as soon as possible. At Sharmin & Sharmin Attorneys at Law, we provide our clients with the highest level of support possible to help clients move beyond these limitations. Our Florida credit card fraud lawyer can help you with any type of trial involving your credit report or identity theft litigation.

What Payment Alternatives Can Help Prevent Credit Fraud?

The Most Secure Methods of Making Payments

You need to make a payment. You want to use the most effective payment alternative to help you make that payment safely. What do you do?

Consider Using Cash

Cash is the least secure way of making a payment. Though it is easy enough to hand someone money, there is no way to prove that you made that payment. This creates a high risk of theft. However, it does avoid identity theft since no exchange of information is provided.

Use Credit Cards

Credit cards come with some level of protection for you. Because you have the ability to refute the payment request made on a credit card, you are protected. You may think giving a company your credit card information is risky, but protection is in place.

Many credit card companies offer zero fraud liability coverage. That means that you are only legally liable for up to $50 in charges to your credit card that are fraudulent. The Fair Credit Billing Act put this rule in place.

If someone obtains your credit card information and uses it to make purchases, you can refute those claims with the credit card company. You can only be held liable for $50 of that.

Consider ACH Transactions

Automated Clearing House (ACH) payments are another way to pay a company or service provider. The money transfers funds directly from your checking account into their bank account. As a direct result of this, there are numerous security features in place designed to limit any illegal use or sharing of information. Your information is likely to be safe.

What You Should Know About New Technologies

Payment apps, EMV chips, and contactless payment are all methods that are becoming more and more heavily used today as people move away from carrying cash on them. Are they safe methods to make purchases? They could be, but there are a few things you should know about this first.

  • EMV chip technology reads and transmits data using encrypted information using a single-use digit. This helps to minimize the risk of any type of counterfeit fraud since it is much harder to duplicate the transaction.
  • Contactless payments also use encrypted codes that are used for just one time. This is much like the EMV chip technology, just that it happens without actually swiping.
  • Payment apps will store one or more types of payment on them and aim to provide you with a “safe” way to transfer money from one person to another or a business. Multi-factor authentication, including notifications and facial recognition, helps to make these apps more secure than ever.

In all cases, there is risk when it comes to providing any personal information to someone. Take the time to do your homework. Know who you are paying. Ensure that you only provide them with the necessary information. Using a payment app, for example, they do not need any bank or credit card information from you. They just need your email or application username. Keep your name and all contact information private, including your address and Social Security number.

What Should You Do If You Have Your Credit Card Information Stolen?

If you believe you could be the victim of credit card theft or fraud, it is critical that you take action right away. The first step is to report your card stolen to the credit card company so that no additional charges can be made to it. However, that is not the only thing you should do. Instead, you should continue to seek additional steps to protect your financial future.

  • Report the theft to the police report through a formal report.
  • Monitor your credit report for any charges that may not be yours.
  • Turn to a credit fraud attorney like ours.

Hiring an attorney may be one of the best steps you can take to protect your financial future. Our legal team will work closely with you to minimize the delay in getting financial help, support you as you fight against charges you did not make, and help you clear your name.

Without comprehensive legal support, you could face financial loss now and difficulty with your identity, credit score, and credit report for years to come. Let us provide you with a consultation, not discuss your case. We can provide very specific steps to take to get legal guidance. Read our client testimonials to get a better understanding of our firm.

Let Our Attorneys Offer Guidance to You If You Are the Victim of Fraud

If you have been the victim of any type of credit card fraud in Florida, get legal guidance as soon as possible. At Sharmin & Sharmin, we are committed to helping our clients overcome these difficult situations and achieve better outcomes. It is up to you to take the most important step – call us.

Set up a free consultation with our Florida credit card fraud attorney. Give us the information about your case. Then, let us tell you if you have a case and what steps you may need to take. Our team is committed to our clients. We work hard on every case to ensure you get the legal support you need throughout this difficult time. It can make a big difference in your future. Call us now.

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