In the past when you paid for your purchases with a credit card, you would have had to sign a receipt. But with this chip and PIN method all you need to do is to key in a four digit number into a keypad when you make your purchase. So although the fraudster can still skim (a devious way of running your credit card details through a credit card copier and then producing a clone) your credit card details, he/she by not knowing your PIN will not be able to commit the fraud. That is why it is paramount never to reveal your PIN to anyone and dont ever make the mistake of writing it down and keeping it together with your credit card. If it transpires that you did so thus enabling the fraudster to rob you due to an oversight on your part, then the credit card issuer will not reimburse you for your losses. Make it a point to memorise your PIN instead. Think of dates like your favourite persons birthday or of an important event, so as to make the memorising of your four digits PIN easier. Also, make sure that you shield the four digit numbers when keying in your PIN into a keypad. It is known for fraudsters to surreptitiously install hidden mini-cameras near the ATMs to record your PIN. By shielding your PIN from prying eyes, you are safeguarding yourself from credit card fraudulence. With the widespread successful use of Chip and PIN, credit card fraud is no longer that easy to commit and the fraudsters are now turning their attention to credit card fraud on the internet instead. The use of the internet for online shopping is growing at a tremendous rate and the fraudsters are keen to cash in. The chief advantage to the fraudster is that when purchasing goods and services on the internet they are only required to provide credit cards details which they can obtain by skimming but are not required to key in a PIN as online shopping on the internet are credit card-not-seen transactions.
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