Credit Card Fraud May Also Be in Play at World Cup
Events like the World Cup are breeding grounds for credit card breaches, so soccer fans are being warned about using their cards during the popular event. The World Cup is taking place over the next month throughout 12 locations in Brazil, and is expected to draw over 3.5 million fans and tourists.
Analysts predict that the World Cup will generate a revenue of $3 billion, and many fans will be a part of that with their credit card transactions. Many tourists do not feel comfortable bringing cash with them. Some analysts fear that ATMs and credit card processors are liable to be riddled with skimming devices and cameras, which could steal card data from unsuspecting fans.
“Fraud events follow specific sporting events, and ATM and point-of-sale skimming of credit card accounts are rife for fraud, especially at high-density events in smaller and mid-sized cities,” Seth Ruden, senior fraud consultant for ACI, told Computer World. “There’s a significant chance of an organized fraud effort by organized crime at the World Cup.”
Some users may not be aware of this risk, while others may not be troubled, figuring banks will not hold them liable for the charges. But the additional issue is that the bank will likely freeze the account after a fraud is reported, which could block people outside their home country from having access to their funds.
If you are planning to attend the World Cup, don’t allow anyone to walk away with your card to make a payment. Try to pay with cash when possible, and monitor your account on a daily basis. Have at least two accounts with sufficient funds in them in case you have to report some type of fraud.