Credit Card Frauds and What You Can Do to Avoid Them
As of 2021, the most common payment method out of all the fraud reports in the US was credit cards. In 2020, when the world was battling COVID-19, there were a total of 459,297 cases of such fraud. Most of these fraud victims were between the ages of 30 and 39, the target demographic for credit card issuers. As a result, theft by credit card fraud increased by almost 45% compared to 2019.
Credit card fraud is one of the biggest threats today’s eCommerce industry faces. No one’s bank account is entirely safe from these perils, from credit card theft to credit card data breaches.
A card issuer does their best to stop offline and online transactions from a stolen credit card whenever they suspect fraud. It’s also possible to recover funds from credit card fraud via a funds recovery company. These companies can easily back you up as long as you have sufficient evidence. However, you to be vigilant as well regarding this issue. So, here are a few things you can do to avoid credit card fraud.
Never Save Your Credit Card Details
In 2021, Google sent millions of users a chilling email when it told them their passwords had been compromised. The data breach exposed millions of users’ saved login and payment credentials.
You often save your credit card information on various websites. The purpose is that you don’t have to re-enter the same details the next time you want to buy something from them. However, hackers can access your information when they manage to breach the website’s security measures. As a result, your credit card information is no longer safe. It might already be too late by the time you get to know it.
Scan Your Computer and Phone for Virus and Malware
The number of online transactions reaches the million mark almost every day. Most of these are credit card transactions, where people are buying stuff online. Since you’re either using your mobile or PC for this, you must make sure no one is snooping on you and your credit card information.
Scan your PC and smartphone for viruses and malware. Hackers and scammers can access confidential information on your devices by planting a backdoor. At the same time, you should be careful while installing third-party software on your devices.
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Use Stronger and More Secure Security Measures
Not saving your login credentials and credit card information will go a long way in protecting you from fraud. However, you can still do more to protect yourself from credit card fraud.
Using a secure password should be your priority. Use a mix of alphabets, symbols, and special characters to compose the password. Never use guessable passwords like your birthdate or pet name.
Look into other ways of securing your devices. Biometric authentication is a highly efficient way of doing so. After all, it won’t be easy to replicate your eyes, face, or fingerprints.
Don’t Use Your Credit Card On an Insecure Website
Never purchase anything using your credit card on a website without an SSL certificate. The SSL certification verifies that the website encrypts sensitive information passed between the user and the server. No SSL certificate means that anyone can snoop on that information. When you wish to install an SSL certificate make sure it is from a reputed CA like RapidSSL, GlobalSign, DigiCert, etc. A few well-known certs are popular among developers including RapidSSL wildcard Certificate for subdomains, comodo multi domain SSL, and Thawte SSL for a single domain. A site owner can choose as per the site’s requirements.
When using your credit card online, you send your card number and security pin to the receiver’s server. Anyone with the right tools and brains can snoop on these exchanges and steal your credit card information. That is even worse than when someone steals your credit card. With credit card theft, you’ll at least know that someone stole it. There’s no easy way to tell if someone stole your credit card information during the transaction process.
Be Careful While Using Your Card
When using your credit card, keep the following points in mind.
- Make sure the card reader at the ATM is not loose.
- Cover your pin as you enter it into the machine.
- Never let anyone use your credit card. At the same time, never tell your credit card pin to those at the payment terminal or counter of the store.
- Immediately call your card issuer and block the card if you lose it.
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Be Aware of Unauthorized Transactions
Always keep your credit card bills in check. When you spot an unauthorized or suspicious transaction, notify the credit card company. Don’t risk keeping your card active at that stage.
Your credit card issuer will also notify you when it sees that you’re trying to make a transaction to a suspicious or blacklisted website. Listen to their reasons for the notification and possible transaction block. Avoid using your credit card on those sites if possible.
Credit card fraud will continue as long as people are not careful about how they use it. So, your best bet to avoid these frauds is to ensure you stay extra cautious all the time.
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Which Describes A Type Of Tax That Funds City Programs? – Let’s Find Out
Which describes a type of tax that funds city programs? – The answer is local income tax or local tax. These taxes are mostly meant to fund local public services. These include education, maintenance, etc. These taxes also come in many forms for employees and businesses. Businesses need to perform tax planning accordingly to withhold the income tax of employees and also file the tax for business earnings as well. In this article, you will learn about the essential details of local income tax and how it works in the United States. Next up, you will also learn about the types of local taxes that are applicable. Furthermore, you will also learn about the types of state and local taxes one must pay. Hence, to learn more about the local tax, read on through to the end of the article. Which Describes A Type Of Tax That Funds City Programs? Local tax is the tax that funds city programs. According to Investopedia, “A local tax is an assessment by a state, county, or municipality to fund public services ranging from education to garbage collection and sewer maintenance. Local taxes come in many forms, from property taxes and payroll taxes to sales taxes and licensing fees. They can vary widely from one jurisdiction to the next. Taxes levied by cities and towns are also referred to as municipal taxes.” Most states impose income taxes on employees and businesses. In the case of employees, businesses withhold the taxes and file those taxes with the help of Forms W2 and W4. Local taxes also include those taxes that states and cities impose on goods and services. Apart from that, the property tax bill is also a type of local tax that homeowners pay to the local government. However, TaxFoundation.org states – “Cities, counties, school districts, and other localities that have instituted taxes on their residents’ incomes have done so either to reduce other taxes or to raise more revenue for local services. These may be laudable goals on paper, but local income taxes come with more undesired consequences than other local revenue sources, both for taxpayers and the governments that rely on these revenue streams.” How Does Local Tax Work In The United States? As per the Constitution of the United States, the federal government and the state governments have the authority and right to impose taxes on US residents. According to TaxPolicyCenter.org, “The individual income tax base in most states is similar to the federal tax base. Most states start with federal adjusted gross income, but a few start with federal taxable income. Alternatively, a handful of states use their own definition of income, but even these states rely heavily on federal rules when establishing their tax base. Even the states that start with the federal tax base, however, often apply different rules for certain types of income.” With the help of these taxes, local government fund government services. These services include police, health, fire services, education, maintenance of the locality, etc. Apart from that, with the help of these taxes, local governments also create projects that benefit various communities at large. Apart from that, there are also services that receive federal funds using grants. Local taxes include state, county, and municipal taxes. These taxes are not under federal taxes. When it comes to levying taxes, municipalities face a constant balancing act. They do not keep those taxes high. This is because high taxes face resistance from the public. However, low taxes mean that there are cutbacks in essential services. On a side note, if you want to learn more about tax refund tips, click on the given link. What Are The Types Of Local Taxes? Most of the states in the US impose taxes like personal income tax, estate tax, corporate income tax, fuel tax, and sales tax. The following are the common types of local taxes: Property Tax The property tax is the largest tax that most people (homeowners) receive. The value of the tax depends on the value of the home, which depends on a variety of factors. In each state, there is a guideline under which local governments of the state impose property taxes. Miscellaneous Taxes Local income taxes are imposed by states and cities. The government allows businesses and organizations to withhold those taxes from the wages of employees. Furthermore, there are local wage taxes that a total of sixteen states permit. School district tax is a local tax that you can find in Ohio and Pennsylvania. Sales taxes are for goods and services that residents of a state or municipality purchase. This is a type of regressive tax, as all customers pay the same percentage of tax regardless of their income. However, sales taxes are not applicable to states like Alaska, Montana, Delaware, Oregon, and New Hampshire. Other Government Funding Sources There are other ways through which governments fund capital projects in the community. One of the most common techniques they use is to issue bonds. Investors buy those municipal bonds. As a result, they are lending money to the government. The government, in return, is repaying the principal on a future date along with a set amount of interest. To pay its debt or to fulfill interest and repay the principal, the municipal government might issue a new tax or increase the percentage of the local tax. What Is The Importance Of Local Taxes? It is important to pay your tax bill, especially the local taxes. Municipalities and state governments use these taxes to pay the salaries in public services and to fund other costs of running society. They fund social programs, education, maintenance, local infrastructure, and more. Wrapping Up Which describes a type of tax that funds city programs? – The answer is local tax. Hope this article was helpful for you in getting a better understanding of what local tax is and how it works for governments. Do you have more information to add regarding local taxes? Share your information with us in the comments section below. Get More Financial Issue By Clicking Below!! Stakeholder Theory: What Is It, Working, Benefits, Challenges, And More What Is An Endowment? – Working, Purpose, Types, And More What Is a Bear Hug? Let’s Discuss The Benefits
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Better ROI Expected In The Upcoming Years According to the stock market experts, a better ROI is expected from the Flnt Stock in the upcoming years. The Fluent Turns in a good Q3 which beats more revenue and non-GAAP earnings. After the Post Pandemic, the share prices of the flnt stock have risen to a great extent. The inclination of people towards digital technologies has created a wide variety of demands for digital products in the market. As a result, the flnt stock forecast is quite bright in the upcoming years. The year-on-year growth margin of the Flnt stocks is 21%, and it is expected to grow further in the future. The growth rate of this company is 167% which is far more than expected. 2. Strong Monetization Of Platforms The Flnt Stock prices are experiencing 21% growth in 2021 and year-on-year. It is expected to grow further with the growing acceptance of digital products. 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In the vibrant landscape of audit management in Florida, where regulations shape the business environment, the integration of technology is becoming increasingly crucial. This article navigates through the unique challenges posed by Florida's regulatory landscape, emphasizing the role of technology-driven solutions. Specifically, we delve into the top Florida-based software for audit management, recognizing the need for solutions tailored to local audit requirements. If you are looking for reliable audit management software in Florida, Harrington Group International has got you covered. To learn more, visit their website cited from here. The Dynamics of Audit Management in Florida: Florida's business scene is uniquely characterized by its regulatory nuances and compliance requirements. As audits become more sophisticated, there is a growing reliance on technology to address the complexities inherent in the state's regulatory environment. The call for Florida-based software specifically designed to meet local audit needs is becoming more pronounced. Key Criteria for Evaluating Florida-Based Audit Management Software: Before exploring specific software options, it is essential to establish criteria for evaluating audit management software in the context of Florida's business landscape. The following factors are pivotal considerations in making an informed choice: Alignment with Florida's Regulatory Standards: The software must seamlessly align with Florida's regulatory standards to ensure accurate and compliant audits. Adhering to Florida-specific regulations is non-negotiable, emphasizing the importance of software designed with the local business environment in mind. User-Friendly Interfaces: The presence of user-friendly interfaces is designed to facilitate seamless adoption among audit professionals in Florida. Intuitive design minimizes the learning curve, ensuring effortless integration into existing workflows, a crucial aspect of software usability. Customization Capabilities: The availability of customization features to tailor the software to the diverse audit requirements prevalent in Florida. Flexibility in adapting to varying industries and regulatory standards is paramount, ensuring a versatile and adaptable software solution. Enhanced Security Measures: Robust security measures to safeguard sensitive audit data, considering Florida's emphasis on data protection. Prioritizing data security is essential, and the selected software should inspire confidence among stakeholders regarding the safeguarding of confidential information. Unveiling Top Florida-Based Software for Audit Management: Three standout software options have garnered attention for their features tailored to Florida's unique business environment: Software A: Showcasing features and benefits that align with Florida's regulatory standards, emphasizing seamless integration into diverse local workflows. Software B: Exploring the distinctive strengths of this software, with an emphasis on its adaptability to diverse Florida audit requirements and user-friendly interfaces. Software C: Analyzing the software's suitability for Florida's regulatory landscape, with a focus on security measures and customization options catering to the dynamic business scene. Facilitating Real-Time Collaboration and Communication: Effective communication holds significant importance in Florida's audit processes, where stakeholders must remain aligned and informed in real time. Audit management software excels in facilitating seamless communication, ensuring that all relevant parties have immediate access to the latest information. This enhancement of transparency minimizes the potential for miscommunication and significantly contributes to the overall effectiveness of the audit. Leveraging Data Analytics for Informed Decision-Making: In Florida, where data analytics plays a pivotal role in decision-making, audit management software transcends mere data storage. These innovative solutions provide advanced tools for data analytics, empowering auditors to derive valuable insights, discern trends, and make well-informed decisions that align with Florida's unique business landscape. Ensuring Ease of Integration with Existing Systems: The chosen audit management software must demonstrate seamless integration with the diverse array of business tools used in Florida. Compatibility with existing systems ensures a smooth transition, preventing disruptions during the implementation phase. This consideration proves essential for organizations seeking to harness the benefits of the software without undergoing a complete overhaul of their technological infrastructure. Addressing Common Misconceptions About Audit Management Software: Despite the evident advantages, some Florida-based organizations may harbor misconceptions about audit management software. Dispelling concerns about complexity, clarifying the adaptability and scalability of software solutions, and encouraging organizations to explore tailored options based on their audit needs are critical steps in overcoming potential hesitations. Conclusion: In conclusion, the pivotal role of the right audit management software for Florida-based organizations cannot be overstated. The software options outlined in this article provide a roadmap for organizations seeking to navigate the complexities of Florida audits with efficiency and precision. As the regulatory landscape continues to evolve, and the demand for transparent and compliant audit processes rises, a meticulous evaluation of software options becomes not just a strategic necessity but a forward-thinking imperative. The future of audit management in Florida rests in the adoption of technology, and organizations are urged to embrace these software solutions to unlock their transformative potential. Read Also: 6 Tips For Boosting Efficiency With Virtual Data Rooms What Is QuickBase? A Low-Code Database Platform For Citizen Developers Maximizing E-Commerce Success: The Essential Role Of Warehousing Infrastructure
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What Is The Current Ratio Formula? – Meaning, Interpretation, And More
The current ratio formula is used to calculate the current ratio of a business, This ratio gives an idea of the company’s capacity to repay its short-term loans that are due within a year. This ratio is really helpful for investors as it tells them about the company’s ability to meet its financial obligations. The investors thus evaluate whether the company is financially sound as compared to other competitors and stocks. ‘In this article, you will learn about what the current ratio means and how to calculate it using the current ratio formula. Apart from that, we will also give you tips on how to interpret the situation of a business using the current ratio formula. You will also learn how the current ratio works in general. Finally, we will discuss some of the major pros and cons of using the current ratio formula to calculate the situation of a business. What Is A Current Ratio? According to Investopedia, “The current ratio is a liquidity ratio that measures a company’s ability to pay short-term obligations or those due within one year. It tells investors and analysts how a company can maximize the current assets on its balance sheet to satisfy its current debt and other payables. A current ratio that is in line with the industry average or slightly higher is generally considered acceptable.” However, if the current ratio of a company is lower than what is expected on average from the industry, this indicates a higher risk of distress or default for the company. On the other hand, if a company has a very high current ratio as compared to its competitors in the same industry, this shows that the company might not be using its assets in an effective manner. There are various other liquidity ratios that investors use to calculate the situation of a company. Unlike other ratios, the current ratio makes use of all current assets and current liabilities. That is why the word ‘current’ is used here. It is also called the working capital ratio. Read More: Disaster Recovery Vs Business Continuity – What Are The Differences? Current Ratio Formula - How To Calculate It? According to Wall Street Mojo, “The current ratio equation is a crucial financial metric that assesses a company’s short-term liquidity by comparing its current assets to its current liabilities. A ratio above 1 indicates the company can meet its short-term obligations, while below 1 suggests potential liquidity issues. It aids in evaluating a firm’s financial health and ability to cover immediate debts.” Here is the formula with which you can calculate the current ratio of a company: Current Ratio Formula = Current Assets of the company / Current liabilities of the company The current assets of the company are listed in the company’s balance sheet. It consists of the following: Cash Accounts receivable Inventory Other current assets (OCA) that the company expects to liquidate or turn into cash within a year The current liabilities of the company are also listed in the company’s balance sheet. It consists of the following: Accounts payable Wages Taxes payable Short-term debts Current portion of the long-term debt Interpreting Using The Current Ratio Formula Based on the end result of the calculation, it can mean different things for the company. Here is how one can interpret the current ratio based on the results of a company: If the Current Assets of the company are greater than the Current Liabilities, then the Current Ratio is greater than 1. This shows a desirable situation for investors and the company. If the Current Assets of the company are equal to the Current Liabilities, then the Current Ratio turns out to be exactly 1. This shows that the company’s Current Assets are not enough to pay its short-term obligations. If the Current Assets of the company are less than the Current Liabilities, then the Current Ratio is less than 1. This creates a problem for the company since it does not have enough assets to pay for its short-term obligations. Investors mostly do not prefer to invest in such companies. How Does The Current Ratio Work? According to TheForage.com, “The current ratio describes the relationship between a company’s assets and liabilities. So, a higher ratio means the company has more assets than liabilities. For example, a current ratio of 4 means the company could technically pay off its current liabilities four times over. However, what makes a good current ratio depends on the industry.” In general, if the current ratio of the company stays between 1 and 3, it is an ideal situation for the company to get investments. However, there are certain business models and industries that operate perfectly fine with lower ratios. What Are The Pros And Cons Of Using Current Ratio? The following are some of the major pros and cons of calculating a company’s capability using the current ratio formula: Pros Of Using Current Ratio Here are the major pros of using the current ratio formula: It helps in understanding how cash-rich the company is It helps in gauging the short-term financial health, and stability It gives an idea of the operating cycle of the company and how efficient it is in selling off its products A greater value shows the efficiency of the management Cons Of Using Current Ratio Here are a few cons of using the current ratio formula: It is not sufficient to analyze the financial situation of the company. The inclusion of inventory may lead to overestimation. The ratio can be unstable during seasonal sales period. A change in the inventory valuation method impacts the ratio. Read More: Matrix Organizational Structure – What Are Its Pros And Cons? 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