As payment technologies have improved and increased in number during recent years, so too have the methods used by criminals to fraudulently access funds.

Unfortunately there will always be a certain number of individuals who are determined to fraudulently access the finances of others, but there are ways they can be tackled.

A vital part of the battle against card fraud is to protect information – names, addresses and contact numbers can often be easily found, but other details cannot.

Things like bank account numbers, chip and PIN codes, and other security measures should not be dispensed with easily – that way data is kept more secure.

Protecting personal information

With many people having more than one form of plastic payment card – be that credit, debit or prepaid – this can open up a great deal of possible security threats.

Simply put, the level of vulnerability to fraud increases with every additional card, as there is more information that requires protecting.

When purchasing online especially, it’s important to check the web addresses of the site to ensure they are secure – some sites can be rerouted to ones set up by fraudsters and customers may not even notice.

Secure sites will appear as a ‘https’ web address, rather than as ‘http’, so checking for the additional ‘s’ can make all the difference.

Essentially, if a customer is unsure about whether a site is genuine, then they should avoid entering any personal details.

Tackling fraud with prepaid options

Prepaid cards are a great way of tackling fraud, especially for those with low-incomes who may otherwise struggle to open bank accounts due to their financial history.

Rather than carrying large amounts of cash, funds can be loaded onto the card and then used as and when required.

These types of card are also fantastic for individuals that struggle with overdraft fees – only the funds on the card can be spent so it’s impossible to rack up debt.

In terms of fraud, the most money that could be lost from a prepaid card is whatever is on it at any particular moment.

Unlike credit and debit cards, they are not linked to bank accounts – if those are hacked a person’s entire finances can be at risk, but this is not the case with prepaid options.

Essentially, the same level of care will need to be taken with a prepaid card as with a debit or credit one to ensure that it is not lost or stolen.

However, the fraud risks are considerably lower with prepaid cards due to the levels of finance that could potentially be accessed.