5 Ways Your Credit Card Can Get Hacked and What to Do About It

Paying off credit card debt

As the world evolved, there has been a significant growth of people using various methods of payment. The appealing offers from banks and various private organizations luring users lead to the growth of card payments.

Today almost every commercial business owner has more than one credit card issued in their name. There has been a preference for conducting major transactions of significant value through credit cards to make the most out of them.

However, this growing preference has also attracted criminals to carry out their cyber crimes with technological advancements. There have been constant reports of credit card frauds surfacing in recent times.

Cyberpunks have been using all the tricks in their books to steal identity, which eventually helps to get the credentials and other credit card details. This process of data theft is generally at the source of the credit card swiping mechanism. Messages about the credit card charges are usually the signs that a fraudulent has happened.

During the transaction, there are many loopholes where the credit card could be at risk of exposure to data theft. However, if proper care is taken during the process, you can stay ahead of these criminal minds by blocking any way to get access to your card credentials. Some ways that are used to hack your credit cards are discussed below; read on to safeguard yourself against such crimes and avoid a credit card hack.

Installing Malware or Viruses

When surfing the web, your system can get infected by the malware embedded in these sites. Also, major credit card frauds usually occur through spam emails. They contain viruses embedded in them. The malware can get access to your password by memorizing your keystrokes. It could also happen if you use an unencrypted network such as some public cafe WiFi to perform some transactions.

A simple VPN download on your device(s) could help you with this issue. A VPN(Virtual Private Network) can encrypt your data pathway for transactions. Furthermore, you can browse securely through an HTTPS connection.

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Card skimming

Generally, card skimming is the technique of stealing credit card information during the transaction process. By placing a small device to read the magnetic bar strip present on the credit card, one can do it.

This strip consists of the information of the cardholder’s name, Expiry date, and card number. It, however, could be prevented by proper observation of the card swipe machine. The skimming device is viewed as an extra length far beyond the reading strip. Also, the card reader would move when jiggled. Hence the skimming device could be observed as an additional part affixed.

Hacking into Business Databases

Today’s world runs by digital activities. Whether it is data storage or processing the transactions, all of them take place online. It is why most cyberpunks are now looking to hack into the systems of those organizations that are concerned with credit card data processing.

This gives them the benefit of accessing several credit cards at once and hence the massive profits. There have been many reports of such instances which are observed worldwide. To protect against such losses, one safety precaution that you can take is two-factor authentication. It can alert you against any security breach.

Phishing fraud scams

When you are surfing the web, you leave your traces in the form of digital footprints. It may include your addresses, mobile numbers, or transaction details. It is the simplest way for cyberpunks to gain this information and contact you via emails or text messages.

These emails usually contain some click baits in the form of offers. By verifying the data they gain through your digital footprints, the hackers ask for your card details under pretexts of money transfer to your account. However, you can quickly identify such emails by installing a spam email detecting system to safeguard your privacy.

Dumpster diving

There have been reports of information leaks through old records that companies believe in having disposed of. However, credit card processing records can be a loophole in security if they are not disposed of properly. This usually occurs when significant companies dealing with card transactions do not shred these old records before disposing them.

As a result, there is a huge possibility of these records getting into the hands of criminal groups. For this reason, the major IT companies always shred their records before disposal to avoid such risks. This is an essential step to safeguard the privacy of users.

You can easily get hold of all your credit card transactions with the above-mentioned practices. By following them during your transactions, you will keep your funds safe & sound. Also, keep an eye on anything that seems strange in the process.

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