Mark Hauser: Keeping Your Money Safe From Fraud
Most people learn early in life how easy it is to swipe a credit or debit card for payment. Whether it’s paying a bill, or purchasing consumer goods or groceries, credit and debit cards have taken over the need to carry cash in their wallets. And while paying with plastic is great and seemingly a safer alternative to carrying cash, there are issues with using cards also. Mark Hauser is warning about the hazards of cards, and how they can be compromised, and also giving advice on using credit and debit cards safely.
As a private equity firm partner, Hauser understands money and all the tricky ways people use to infiltrate and get to other people’s money. That is why he emphasizes and teaches ways to use and keep cards safe.
Fraud happens when an authorized unauthorized person uses a credit or debit card to make purchases. There are several ways that this happens and with the digital world taking over, it happens easily.
According to Mark Hauser, one of the best ways to prevent fraud is for cardholders to use a real-time monitoring system. These systems alert the cardholder every time a purchase is made. That means the cardholder can contact the bank immediately if they are alerted to a purchase they didn’t make.
Other tips that Houser advises cardholders to use include:
- Avoid public Wi-Fi when making purchases
- Don’t wait for monthly statements – monitor account balances
- Only use secure sites when making online purchases
- Don’t let companies save your card information in their database
A warning shouldn’t be necessary when spending one’s own money. However, with the digital boom, it is much easier to compromise and commit fraud from debit and credit cards. Listen to Mark Hauser to keep your cards and money safe