CEO of One of the Nation’s Leading Commercial Debt Collection Agencies Comments on Ways to Detect Fraudulent Credit Card Activity
Bohemia, NY (PRWEB) July 06, 2013 -- On July 6, 2013, John Monderine, CEO at one of the nation’s leading commercial debt collection agencies, issues a statement concerning strategies credit card companies use to identify questionable spending activities on credit cards.
A July 1st 2013 article in Forbes, “4 Reasons Why Your Credit Card Company Thinks Your Card is Stolen”, details how credit card companies recognize suspicious spending activities. With the rise of cyber crimes and identity theft, credit card companies have ramped up their security measures in order to eliminate any potential threats.
Pandalabs, an internet security firm, reveals there are more and more trafficking sites that distribute “compromised financial information”. These sites can transfer personal data on your card to any transaction while it is in your wallet. Credit card companies have devised ways to ascertain if your personal information has been jeopardized.
• Shopping in undesirable areas: If a number of expenses have been incurred in an area where there is a history of suspicious purchases, a credit card company will more often that not suspend the account and freeze it.
• Testing out the card multiple times: Cyber criminals, more often than not, will test out the credit card by making multiple small purchases. This can send up a red flag to credit card companies as a possible illegitimate purchase.
• Purchases made at the same time in different locations: If there is more than one purchase made simultaneously at two different locations, this is a tell tale sign that one of those purchases is the result of identity theft. For the real credit card user, chances are your credit card will be not be accepted if you attempt to make any other honest purchase since fraudulent activity has been detected.
• Uncharacteristic spending habits: If spending activity has deviated from the consumer’s normal purchasing behavior, credit card companies will be quick to possibly freeze the account.
John Monderine, CEO of one of the nation’s leading commercial debt collection agencies, believes consumers should pay attention to credit card payments and make sure the purchases on paper are aligned with their actual actions, “In this day and age of transferring highly sensitive information very fast, it is all too common and frequent for personal data to be compromised and fall into the wrong hands of a cyber criminal. Consumers should be vigilant and keep track of their credit card purchases to see if any illegitimate expenses were incurred on their card.”
Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.
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Sean Nolan, Rapid Recovery Solution, Inc, http://www.rapidrecoverysolution.com, 866-944-8610, [email protected]
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