Payment card fraud

Payment card fraud occurs when someone illegally uses another person's credit or debit card details to make unauthorized purchases or withdrawals. This can happen through stolen card information, online scams, or hacking. The fraudster might use the card details to buy goods, withdraw cash, or commit identity theft. It can cause financial loss and inconvenience for the cardholder. Banks and card companies use security measures, like fraud alerts and monitoring, to detect and prevent such unauthorized activities. Protecting your card information and regularly reviewing statements help reduce the risk of payment card fraud.