Credit cards have a close contribution to electronic fraud in Australia because every day there are thousands and thousands of electronic operations that have place in the cyberspace and an important amount of these transactions are fraudulent. There are many reasons why electronic fraud have place even in the home of many of us, when we try to purchase a product that should be delivered and shipped to our destination within a short period of time when suddenly we realized something is going wrong. We ask to the seller about the item that should be sent two or three weeks ago and the merchant says the item was shipped to right destination. This problem is affecting million people around the world as well as in Australia.
The electronic fraud is internationally a huge problem because this Industry is considered as an Industry that is competing with other fields and sectors of the world economy. According to Cyber source, the electronic crime-fraud is an industry that has reached the last year $3 billion in loss. There some estimation, for each transaction of $100, there is a loss between $4 and $12 due to electronic fraud. I personally think that electronic fraud is a reality in our society but the credit card system as well a lot of online shops are very vulnerable to attacks and when people dont have sufficient information about how use their credit cards it could be very dangerous for them.
In other words, credit cards are good for a lot of things but also, most of the electronic fraud is produced due the use of stolen credit cards, credit card cloning-duplications as well as people that can use your sensitive information to purchase goods and services with your funds. There are a lot of secure mechanisms that can help you a lot protect yourself against electronic fraud but none of these methods are 100% secure. Credit card industry and credit card associations are very aware of that and they have invested billion dollars to reinforce the security systems, to train merchants and prove more tools to them so that they can have their online shops fully trusted.
There are other products used in other places that have been used to protect users from electronic fraud. For instance, there is an international movement that is promoting the use some coupons having a PIN or secret code that is used to purchase goods and services through the Internet. These coupons are great, because you dont have to input your personal information nor credit card information. It can provide you a better level of protection as well as a higher discretion, when you are purchasing things through the Internet. It is better than use no fee credit cards, but there are only some few websites that can accept these coupons.
Moreover, I have seen these coupons are absolutely free; you dont have to pay any fee when you purchase them. They are like cash money that can be used to buy products, make online payments and consume everything you want in the Internet.
