The amount of money lost to fraudulent charges on credit, debit and prepaid cards continues to increase every year, and there were almost 460,000 reports of credit card based fraud and identity theft in 2020, according to the Federal Trade Commission.
Fraudulent charges on Stanford-issued credit cards have been on the rise and typically peak around the winter holidays. Cardholders and custodians of Purchasing Cards (PCards) and Travel Cards (TCards), who are responsible for keeping these cards safe, need to be especially vigilant at this time of year.
To help address this problem, the Card Services team will be monitoring Purchasing Card (PCard) and Travel Card (TCard) accounts for potential fraud throughout the winter closure. Cardholders and custodians, however, should also take the following important steps.
Order what you need now
- Before winter closure, take time to pay for the services and supplies you will need in December and January that you normally charge to your PCard. This step will help you avoid using your PCard during winter closure.
Limit who has access to your card
- Do not lend or share an individual PCard or any TCard.
- Do not write down the account number for your PCard or TCard or share the account number with others.
- Limit the use of department PCards to a few designated employees.
- Avoid using your PCard on your personal Amazon account. Please use Amazon Business to create a purchase requisition for purchases if necessary.
Only use the card on secure and reputable websites, and do not save the card number as a default or future payment method.
Physically secure your card
- When the card is not in use, keep it in a locked unit.
- Do not carry a Stanford-issued credit card in your wallet, where you could mistakenly use it or lose it.
Sign up for fraud alerts
- Enroll your PCard or TCard in JP Morgan fraud alerts, which will notify you immediately by text message, email or phone call if there are any suspicious transactions on your account. This is a simple way to help keep your card secure.
Watch for fraudulent charges
- Check your PCard and TCard transactions regularly for fraudulent charges. If you find a fraudulent charge (or if your card is lost or stolen), immediately contact JP Morgan for assistance. The cardholder should:
- Immediately contact JPMorgan Chase to request cancellation and reissue of the card. Provide the cardholder’s name and 4-digit access code.
- Verify recent activity to ensure there are no fraudulent transactions.
- Then notify the Card Services team via a Support Request.
To learn more, visit Preventing Fraud on Purchasing Cards and Travel Cards. If you have questions or need help, please submit a support request to the Financial Support Center.