Fraud Detection Tips -Share yours!!

Discussion created by 702rugbyref on Jul 13, 2015
Latest reply on Dec 7, 2017 by jsucool76

Hello fellow MR members.


This past weekend, I unfortunately detected a fraud on a car rental (over charged by 71%!). So I got to thinking after I created a blog on car rental issues travelers may have encountered, what fraud detection to you personally employ to keep YOUR $$ safe.


I have signed up for fraud alerts on all my credit cards for 'unique purchases or irregular activity' and this has helped as recent as two weeks ago on a Capital One charges. However, I also take personal easy steps to help me more easily track and determine fraud activity and below I will give you a couple of examples. Keep in mind, I was a police officer for over 13 years so I tend to watch and be prudent on my charges although I am sure some will slip through.


TIP # 1 - When I use my credit cards at a restaurant for the past 5 years, I ALWAYS complete the transaction to a penny...thus my signed receipt will ALWAYS display $***.01 (including the Tip). So when I scan my statements, It will be easier to detect as a great proportion of frauds would never do a penny. So for example, if a restaurant bill came to $101.34, I would make sure the bill would total $1XX.01. BTW...at least three frauds detected this way in the past three years...two of them in VERY HIGH END restaurants!!


TIP # 2 - Similar when I purchase gasoline on my credit card, I ALWAYS stop on $.05 and rarely $.06 (cause I don't go all the way back around). Once again, my logic is the same as the restaurant, the chances of a fraud occurring and ending in $.05 is 1% and if you include $.06, then 2%. So, scanning my statement it is much easier and clearer to detect a fraud. BTW...at least three frauds detected this way in the past 4 years.


Please share some of your ideas/thoughts! Cheers and be safe. Phil