Credit Card Fraud Prevention Tips in Mozambique

As credit card usage becomes increasingly popular in Mozambique, it’s essential for consumers to take necessary precautions to prevent fraud. In this article, we’ll outline key tips on how to safeguard your personal and financial information when using credit cards.

Applying for a Credit Card

Before applying for a payment card, carefully review the general and specific conditions of the card (CGU). Ensure that the card combines multiple functions (debit and credit) and ask for clarification on the circumstances in which these functions can be used.

Receiving the Card and PIN

Upon receiving your card, sign the back of it. Memorize your PIN and destroy the envelope with its registration. Never write the PIN on the card or any other support near it.

Using Your Credit Card

Keep your card in good condition and avoid placing it near electronic devices (mobile phones, etc.), heat sources or magnetic surfaces (wallets with magnet closures, etc.).
In the case of credit cards, do not use the card beyond the set credit limit.
Always make sure to set the PIN in private conditions.

Other Forms of Care

Immediately notify your issuer and/or public authorities of any loss, theft, or misappropriation of your bank card, as well as any unauthorized use.
Do not disclose sensitive payment card data (e.g., PIN, expiration date, card number, and CVV2), even if requested by a legitimate source.

ATM Safety

When using an ATM:

Ensure the ATM looks normal and is in good condition.
Set your PIN in private conditions.
Press “cancel” at least three times before inserting your card.
Do not accept help from strangers while making transactions. Contact your issuer immediately if the ATM retains your card.

POS Safety

When using a POS:

Ensure the POS looks normal and is in good condition.
Confirm the displayed amount corresponds to the purchase price before entering your PIN.
Set your PIN in private conditions.
Approach the contactless card to the reader only after validating the operation amount on the display.
Never lose sight of your card during a payment.

Checks

When issuing checks:

Verify if the account has sufficient funds.
Ensure the indication of currency matches the pre-printed currency.
Check for any unauthorized signatures or alterations.

Digital Channels

When using digital channels (e.g., internet banking):

Read and review all information provided by your institution before signing up.
Clear any doubts with your institution.
Evaluate conditions presented to you, analyzing costs, remuneration, and risks.
Ensure you’re provided with pre-contractual and contractual information in a lasting support.
Adopt security procedures available from your institution.

Additional Tips

Avoid using public equipment or public hotspots for financial transactions.
Protect wireless communications (Wi-Fi) by adopting secure protocols.
Make payments only to credible entities and secure websites (HTTPS://).
Log out and exit the page after using internet banking services.
Activate transfer and debit alerts or other security mechanisms provided by your institution.

By following these credit card fraud prevention tips, you’ll significantly reduce the risk of falling victim to scams and unauthorized transactions in Mozambique. Remember to always stay vigilant and aware of potential threats to your personal and financial information.