If you want to prevent damage from lost or stolen credit cards while traveling overseas during the vacation season, you can apply in advance for the 'Overseas Usage Security Settings Service,' which allows you to limit card usage by country and amount before departure. The Financial Supervisory Service noted these details in its guidance on 'Precautions for Using Credit Cards Abroad' on the 27th.
Recently, as the number of overseas travelers has increased, there have been a series of cases of credit card fraud due to theft, loss, or duplication abroad. Last year, the amount of damage from credit card fraud occurring overseas totaled 2.79 billion won due to theft and loss, and 360 million won due to card forgery and alteration.
The FSS advised that to minimize the risk of credit card fraud, travelers can apply for the Overseas Usage Security Settings Service before departure, which allows them to limit the countries where the card can be used, the amount for each use, and the duration of use. By setting the credit card limit to within travel expenses before departure, significant damage can be prevented.
Additionally, when abroad, it is advisable to avoid using cash dispensers (ATMs) installed in remote areas or private ATMs due to the risk of card information theft. The FSS urged travelers to verify the payment process directly, as there have been cases where cards were taken to other locations for forgery when paying at overseas street vendors or bars.
If your card has been altered without your knowledge during your overseas trip, you may still experience credit card fraud even after returning home. To prevent this, you can apply for the 'Consent Service for Utilizing Overseas Entry and Exit Information' from your card issuer to limit offline payments made abroad.
Moreover, when making payments abroad, it is advisable to pay in the local currency rather than in won to save on fees, so applying for the won payment blocking service before departure is recommended.