Credit Card Fraud Awareness

Kern talked about the growing sophistication of credit card fraud - especially with criminals now using AI to create convincing emails, websites, and even voice impersonations. Here’s a quick guide to the most common scams covered in his talk and his advice on how to protect yourself.

Common Types of Fraud

• Application fraud: Criminals open accounts using false or stolen identities.

• Account takeover: Fraudsters gain access to existing accounts by compromising login details or changing contact information.

• Card fraud: Stolen card details are used to make unauthorised purchases, often obtained through phishing or social engineering.

• Romance and Authorised Push Payment (APP) scams: Victims are manipulated into sending money or transferring funds to “safe accounts” controlled by criminals.

How Scammers Operate

Fraudsters combine emotional pressure with technical tricks:

• Urgency, fear, and secrecy to push victims into acting quickly

• Fake login pages, spoofed caller IDs, and AI‑generated messages that look legitimate

• Targeting people exposed in data breaches or previous scams

Red Flags to Watch For

• Unexpected texts or emails with links

• Slightly altered URLs or odd‑looking websites

• Requests for PINs, full card details, or one‑time passcodes

• Instructions to keep conversations secret or move money urgently

• Caller ID that appears genuine—because it can be faked

How to Protect Yourself

• Never share security codes, PINs, or login passcodes with anyone who contacts you unexpectedly

• Hang up suspicious calls and contact your bank using the number on its official website

• Check URLs carefully and verify sellers before buying online

• Treat secrecy requests as a major warning sign

Consumer and Business Considerations

Credit card protections like chargebacks can help, but claims may be denied if customers are found negligent. Businesses should publish clear fraud‑prevention guidance, explain protection limits, and educate staff and customers about emerging AI‑driven threats.

The Bottom Line

Fraud tactics are evolving quickly. Staying safe means verifying unexpected requests, using official contact channels, and never sharing sensitive information. A few seconds of caution can prevent major financial loss.