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Nowadays, people are using "Plastic Cash" (credit card) to shop and pay for almost everything. With the ease of payment, comes with the ease of fraud. As a wise consumer, we should know how to prevent credit card fraud, thus safeguarding our "plastic money". Credit card fraud is a serious crime which can cost you and credit card issuers huge losses. Credit card issuers have taken security measures to protect you against such possible frauds. However, you can also take the proper safety measures to avoid from being a victim of fraud. Here’s what you can do to minimize your risk of being a victim of card fraud: Safeguard your credit card Sign on your credit card immediately after you received it. Keep your credit card in the same place in your wallet or purse so that you will notice it immediately if it is lost or stolen. Do not lend your credit card to anyone. Do not provide your credit card details to an unknown party. Do not write down your PIN number on the ...

Recently, theStar highlighting a serious issue pertaining to insurance claims - Fraud Claims . It even started with staggering paragraph "Fingers have been chopped off, medical ailments exaggerated and even death faked - all for the purpose of fraudulent insurance claims". Among the issues: RM500 mil in bogus insurance claims are detected each year At least 2 insurance firms have folded as a result of high compensation claims compounded by fraud Insurance firms fight back by setting up special fraud detection units Regarding to this topic, Finance Malaysia would like to shares some views here pertaining to the effects on Malaysians as a whole. And, most importantly, the impact of insurer would definitely pass it to people insured. Why I said so? First, you must understand how insurance companies compute their premiums charged to each clients. If the insurer is financially stronger, it may charged a lower premium for the same amount of coverage on its policies. In other wor...