Your guide for comprehending ATM, Credit and Debit cards and their safety
Digitalization of services and payments has come down to three major types of card payments that people can make today. ATM cards are the first option to scrutinize as they serve the same function as both debit and credit cards however they belong to the banking institution with which you bank your money at. ATM cards have Visa, Discover, MasterCard and even American express logos that should be well visible on their surface.
Debit cards on the other hand are check cards that have almost similar functions to ATM cards however have extra benefits like use in retail and internet based stores for shopping. Debit cards just like ATMs draw money directly from your bank account which means there are no interests involved. Lastly credit cards are the last card payment option you have for both retail and online shopping. Credit cards are like loans that are issued to you up to a certain figure based on your credit score allowing you to shop for a period of time and pay the amount to the company later. Since the funds used on credit cards are loans, you will have interest on loan that you will have to offset.
CVV as most people know it refers to the three or four digits printed on debit and credit cards. The digits are unique and random to every card as they help the retailer accept payments from cards knowing the card owners have given the authorization. CVV fullz is a safety feature that people have to work with protecting them from identity theft and credit card misuse online.
Companies that issue credit and debit cards have security measures in place to ensure that all CVV generated are unique and can serve the purpose they were made for. You will have to submit your CVV to the online retailor before you are allowed to make official any payment for goods purchased. This has been a necessary measure to curb the increasing rate of digital crimes like identity theft, impersonation and fraud. You should however not confuse CVV with the card pin as they are two distinct security measures in place though independent of each other.
CVV security concerns
When shopping via the internet, you become vulnerable to different targeted attacks that result from carelessness mostly. Both credit and debit cards have their unique CVV numbers for virtual payment getaways. The sites you shop from are never allowed to save your card details for instance CVV number thanks to the Per Payment Card Industry Data Security Standards. Once your CVV has been accessed by unauthorized people, it become even easier to access all your financial information and manipulate it against you for instance in fraudulent activities.
How are CVV and credit card details stolen?
CVV numbers are uniquely generated by financial companies that give credit and debit cards to clients. Now that cybercrimes have gone to the peak, people are required to always stay alert against phishing scams and other methods used to steal credit card data from unknowing online consumers. Discussed here are some of the obvious methods can be used for stealing credit card details including CVV number from you today that you need to be aware of.
Info stealers – This is a type of malware that affects your PC and collects all personal information for sharing to the source of the malware. It is made by hackers and can be execute din seconds to uncover your personal information that can be used against you. Long term schemers with info stealers rely on key loggers to help them get information about customers over a long period of time for easier manipulation.
Phishing – It remains one of the most common forms of gaining access to persona information belonging to customers without their knowledge. It works on the basis of persuasion to visit malicious websites where different strategies can be used to source information from your account. Once on the website, one can easily be fooled to keying in the details of their cards or banks. You must therefore be cautious against installing any unknown software to your PC or phone, avoid visiting malicious websites and linking on spam links.
Browser insertion malware – this is a type of malware that affects the browser you use either on your phone or laptop. The malware has one specific task, collect information regarding your bank and major retailers. It detects you activities online and could overlay its own fake entry page for you to key in your details. Once your data is captured it is sent to criminals who then can manipulate in different ways that end up with you on the losing end. This is why you ought to be careful about the websites that you shop from and most importantly where and which financial details you submit when shopping online.
Key loggers – key loggers are dangerous types of malware that will not be easy to detect on your computer or phone. The malware once installed in your system remains invisible and records the clicks on your keyboard that you make when entering useful information for instance passwords, pin and your credit card details for instance CVV and ban account number. It then sends the captured information to criminal entities that can them manipulate your financial details to their own benefit.
Measures to remain safe against phishing and key loggers
Now that you understand what is at stake when you are shopping or making payments online, it is up to you to make your decision on how to tread carefully without making yourself vulnerable to such attacks. You should do the following for your own credit or debit card safety concerns:-
- Avoid sharing of your bank account, debit or credit card details to anyone especially those that are unable to prove their authenticity.
- Do not fall email phishing scams that ask you to visit untrustworthy websites or worse still submit your personal information to them?
- Use secure networks for browsing hen shopping or purchasing anything from the internet to mitigate chances of your traffic being intercepted.