Only You Can Prevent Credit Fraud
Monitoring accounts pays off by catching crooks early
For Immediate Release: March 3, 2005
ROCKVILLE, Md. — It's official; Americans love plastic. More Americans than ever before have been turning to credit and debit cards to make their everyday purchases. From a fast food lunch to the weekly groceries, electronic payments have become the norm. But while swiping your card at the register or using it online is generally accepted as being safe, occasionally account numbers fall into the wrong hands.
"As long as consumers are using credit to make purchases there are going to be thieves attempting to steal vital account information, but that doesn't mean you should shy away from credit," said Steve Rhode, president of Myvesta, a nonprofit consumer education organization. "You are your best protection from credit fraud, and by being an observant consumer you can catch any fraudulent activity before it becomes a serious issue."
According to Rhode, one of the simplest and most effective methods of combating credit fraud is to monitor accounts and watch billing statements.
"Almost one-quarter of the American population does not review their credit card statements every month, who knows what they are missing." Rhode said. "It's quite easy these days to keep an eye on your accounts online or go over the monthly statements mailed to you by your creditors. By monitoring your accounts and reviewing your statements on a regular basis you can quickly identify any fraudulent activity and report it to your account holder."
Rhode also recommends reviewing your credit reports regularly to prevent and identify any instances of credit fraud and to immediately view your reports after discovering unauthorized account activity. To order a consolidated copy of your credit report, containing information from all three credit bureaus, visit Myvesta.org online.
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MyvestaSM is dedicated to helping people create healthy financial lives. The organization provides a wide range of materials to inspire and inform people so that they can break down their barriers to financial and personal success. For more information visit Myvesta.org online.
