Diwali is here. We are just one week away from one of the biggest Indian festivals. This is the time when most people look to purchase new items including smartphones, jewellery, clothing and electronics. With the emergence of several e-commerce platforms, shopping has become easier than ever. You can order stuff from your couch and it will be delieved within days. However, there is a dark side to online shopping as well. The buyers are likely to be trapped by fraudsters who are consistently coming up with new methods to access their debit or credit card details. 

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"It is imperative for us to understand the precautions that we must take while using them. While the cards do replace the need to carry huge amounts of cash, one must be extremely cautious while using them, especially with a high-risk merchant," explains Rajesh Desai, CEO & Director, Lyra Network India. He lists down few ways to safeguard your credit card transactions -

Keeping your PIN safe:

This is probably the most crucial and a safety measure that you must follow because without the PIN number, very little can be done even if your credit or debit card gets stolen. So, do not tell it to anyone and don’t write it at places where others can find it.

Be careful with the receipts:

Whenever you use a credit card, you receive a receipt. It is advised to not leave the receipt at places from where it can be taken by others as that slip often contains the details of your card, like the number –  first or the last few digits, type of card - which can pose a fraud risk.

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Stay cautious while shopping online:

In times of fake websites and spyware that can steal your card information and then misuse it, you must ensure that the website provides secured software for the protection of your card details.

Other such measures that help avoid the risk of credit & debit card frauds are — being there when a merchant swipes your card, double-checking the amount of the bill and the amount that is logged in by the merchant, destroying the unused cards, among others.

Also, in case you lose your credit or debit card, do make it sure to report about it to the bank.