Something hasn’t been feeling right about your credit card balance for a while. You may have noticed small missing amounts but you don’t recall what you spent them on.
Then suddenly one day multiple transactions happen from the same card which were undoubtedly not made by you. Well, bad news for you. Somebody has been cloning your credit card.
When you find out you've been a victim of credit card cloning, the first thing you do is contact the bank. They will take the necessary steps to prevent all further financial damage.
You must also report the crime to Action Fraud- the UK's official cybercrime and fraud reporting centre.
Credit card cloning is a fairly common crime in the UK. Someone becomes a victim of this fraud every four minutes. And this lets the criminal steal around 50 million dollars each year.
So, it's not unlikely for you to become a victim too. However, it's not the end. Follow this discussion to see what options you have.
4 Things To Do When Someone’s Cloning Your Credit Card
Clone cards can be a nightmare for the original credit card holder. It can wreak havoc on your finances. In some cases, you might even find yourself in some serious legal trouble.
Still, there’s no benefit in panicking. Keep your head cool and consider the following actions-
Step 1: Report To Your Bank or Card Issuer Company
The sooner you report a cloned card to your bank, the better. Those who regularly review their credit card statements will be at an advantage here.
Because the first few minor unauthorised transactions will raise their suspicion and they will be quick to report it.
You will have to provide the account details in this case. They won't ask for the full card number over the phone.
But you're expected to tell them the last few digits. So, you must have those memorised or written down somewhere.
The bank will also ask for the last transactions that you did authorise. This helps them distinguish between legitimate and criminal activities from your card.
Step 2: Stopping The Cloned Cards
Once you report the crime to the bank, they will immediately cancel the card. As a result, the frauds who cloned it won’t be able to use it any more.
Usually, criminals sell the clones on the dark web (approximately 135,000 British cards). When the bank stops your credit card, anyone who bought the clone can't use it for online purchases any more.
But can a cloned card be used at an atm? Yes, it could be. But not after the bank stops it. Therefore, reporting to the bank is your first and most effective action against the crime.
Apart from that, the bank will launch an investigation in association with responsible authorities. Most importantly, the bank likely grants you zero liability protection once you report card cloning.
Which means you won't have to bear the cost of unauthorised transactions made with that card.
You will also be issued a new card with a different number from the last one. It usually takes a few days for the new credit card to arrive.
Step 3: Report To Action Fraud
Action Fraud is the next possible step in the case of cloning cards in the UK. This organisation deals with fraud and cybercrime in England, Wales, and Northern Ireland.
Since most criminals will make online purchases with the cloned cards or sell them on the dark web, your case perfectly fits the definition of what they do.
You can call them on their hotline during office hours. There is also an online reporting tool you can use. Provide them with as many details about the crime as possible.
For instance, when you first become aware that the crime has occurred. Screenshots of unauthorised transactions on your bank statement.
Also, report any threats or messages the criminals sent you. To make the case stronger, let them know how credit card cloning is affecting you financially and mentally.
One of the major benefits of reporting the credit card crime to Action Fraud is that you receive a Police Crime Reference Number.
This will help with your insurance claims in the future. Plus, they will launch an investigation.
Step 4: Filing a Police Report
Do police investigate credit card theft? Well, it's not necessary to file a police report on cloned cards since the bank and Action Fraud will already do that.
However, you might want to file a report if the credit card fraud is part of a larger crime. For instance, if there is reason to believe that you might be falling victim to identity theft along with credit card cloning.
In that case, report the incident to the police as soon as possible to save yourself from future legal troubles.
How To Use White Card Money?
So the bank cancelled the clone and you are waiting for the new card. But what if you have to make some purchases or withdraw cash during these few days? Well, white cards can be a great card option if you have them. These are private-label credit cards that work exclusively with specific retailers of business.
The white card's range is significantly limited than a normal credit card. For instance, you can't withdraw cash from ATMs in any corner of the world. However, some white cards might be issued by MasterCard or Visa.
In that case, you will likely be able to withdraw money in the European economic zone. However, various conditions will apply.
Still, the white card can be useful as it can help you purchase daily necessities from the issuing retailer. You can use the card at both physical and online stores.
How To Prevent Cloning Your Credit Card?
Frauds usually clone your cards from the ATMs. They might install a skimming device on the card reader. This device will copy the card when you use it at the ATM.
So, inspect ATMs for signs of tampering before inserting your card. It's best to avoid shady ATM booths and only use the official ones from your bank.
Also, set up bank alerts for every transaction that happens with your card. That way you will be notified the moment an unauthorised transaction occurs.
One of the best options is to use a secure money transfer network like Small World FS. We're regulated by the FCA. Plus, we've 15 million customers across 90 countries to vet for our trusted services.
Go through fraud awareness guidelines to keep your finances safe in the online wilderness. You can also take the help of your security centre if you suspect someone is cloning your credit card.
