Assignment about id theft of credit card company

Assignment about id theft of credit card company

Credit Card identity theft is a bane that has struck credit card users and companies alike across the world. Identity theft is a crime committed whereby someone pretends to be someone else in order to achieve monetary benefits. Identity theft with relation to credit cards started way back since the usage of credit cards began. As it just involves access to a few details which can hence forth be used to shop online for anybody puts lots of questions to the service itself. Some companies end up serving only if the credit card customer is buying the items in the same name and address as mentioned in the details with the card issuing bank. But this results in a decrease in business considerably.

As a respected credit card company in the market, we cannot be let down by the fact that 4% of our customers have complained of fraudulent transactions which ultimately boils down to credit card identity theft. We need to impart knowledge to our customers with the following data points to restore their confidence in us and prevent any actions such as discontinuation of relationships with our company. The few points that need to be told to the customers are: 1. Any account that can be viewed via the internet should be checked time to time to assure that there is no uncalled for activity happening.

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2. Please put all your sensitive personal data in a secure place. Encrypting and password protection ensures that the data remains unreadable if stolen. 3. Please dispose off outdated bills and other personal documents in a proper manner so that thieves cannot root through your garbage to reconstruct it. With these few points, customers’ risk of using our credit cards is reduced to almost a negligible level. We as managers within the company need to provide customers the confidence that we are very enthusiastic to serve our customers and will do every necessary action to protect the interest of our customers.

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Works Cited

Preventing Identity Theft for Dummies. Michael J. Arata. 22-23