Look Out for 'Fraud'

More than 10 percent of Americans have been subjected to credit card fraud, a deplorable phenomenon that is growing with the arrival of the holiday shopping weekend of the year and has increased the inclination of a growing number of consumers shopping online.

Financial institutions recommend monitoring the activity of their bank accounts-if you use debit- cards and statements in the case of credit cards. Most banks and card issuers now have sites for access through mobile devices, which can even be assigned an alert to watch for improper charges.

It's also advisable to protect personal information, since identity theft tends to rise in times of increased purchases. Do not share your Social Security number and leave the card in a safe place at home because if you lose your wallet, purse or wallet nobody can get their data. Follow the same precautions when you dispose of the garbage statements or confidential documents.

While offers are always attractive, be sure to do your shopping at a reputable site. If a price is too good to be true, it probably is a product with limited warranty, used, rebuilt or even falsified. If you shop in a computer used by others, log and not save your passwords.

It is estimated that credit card fraud amounted to over 5,000 billion globally, but following the proper precautions, there are good chances to avoid being another statistic.

For more information go to Consumer Safety or to read this article in Spanish go to La Red Hispana

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