WASHINGTON-The Federal Trade Commission (FTC), the nation’s consumer protection agency, released a statistical survey on April 19 that estimated 25.6 million adults were fraud victims during 2011.
The numbers are real and staggering:
- 10.8 percent of the adult population was victims of credit card fraud, according to the FTC.
- The median amount of fraud reported is $399 with the total amount of credit card fraud worldwide at $5.55 billion.
This type of fraud is perpetrated in a variety of ways – through very sophisticated, high-tech schemes to very basic, low-tech methods. It happens every day, everywhere and in a variety of ways.
But there are things you can do to protect yourself and create obstacles to your private financial information, 
according to UAB’s IT Information Security Department. One way is to treat your credit cards like cash.
“We tend to be more careful with cash,” says Joseph Popinski, consultant in the office of the vice president for information technology. “We know how much we have, how much we have spent and how much we have left. We know where it is and where it is going.”
According to the FTC, “treating your credit cards and account numbers like cash – that is, very carefully – is one way to head off potential misuse.”
You can protect yourself and your family from fraud by incorporating a few other simple practices into your daily routine. According to the FTC, fraud protection practices include:
- Don’t lend your card to anyone – even your kids or roommates – and don’t leave your cards, receipts or statements around your home or office. When you no longer need them, shred them before throwing them away.
- Don’t give your account number to anyone on the phone unless you’ve made the call to a company you know to be reputable. If you’ve never done business with them before, do an online search first for reviews or complaints.
- Carry your cards separately from your wallet. It can minimize your losses if someone steals your wallet or purse. And carry only the card you need for that outing.
- During a transaction, keep your eye on your card. Make sure you get it back before you walk away.
- Never sign a blank receipt. Draw a line through any blank spaces above the total.
- Save your receipts to compare with your statement.
- Open your bills promptly – or check them online often – and reconcile them with the purchases you’ve made.
- Report any questionable charges to the card issuer.
- Notify your card issuer if your address changes or if you will be traveling.
- Don’t write your account number on the outside of an envelope.
Keep a record of your account numbers, their expiration dates and the phone number to report fraud for each 
company in a secure place. In addition, you are entitled to a free copy of your credit report, at your request, once every 12 months from the three nationwide credit-reporting companies – Equifax, Experian and TransUnion. You can request a free credit report every four months from one of the credit reporting agencies to monitor your credit throughout the year.
The FTC provides a wealth of information for the consumer to assist in protecting your identity and preventing fraud at www.ftc.gov.
