Credit card fraud usually stems from hackers and data breaches, as well as the rise of CVV shops.
What is a CVV shop? Often called carding sites, these platforms serve as a digital marketplace for buying credit card information, aka dumps.
The internet is a wondrous place but it can also be a source of fraudulent activity. Be careful when using your credit card in unknown or strange websites- your card could end up in the hands of an unscrupulous individual.
Here are some of the best ways to prevent credit card fraud.
Check Your Statement When It Comes
Awareness is the first step to catching unauthorized charges on your credit card.
The best CVV shop will have stacks of credit card information waiting for its customers. These will have everything they need to make an online purchase, including the expiration date and cvv or security code.
However, you can quickly catch a charge by taking a look at where it originated from- if it’s in a city or site you don’t know, then chances are it’s not on your end.
Scanning through bill statements may seem boring, but it’s important. You only need to spend a few minutes each month to get a security status.
Get Fraud Prevention Features and Services
Credit card companies are aware of credit card theft and fraud, and for this reason they’re working round the clock to ensure their customers stay.
Currently, notifications and alerts are available to most cardholders. As soon as a card is swiped an alert can be sent to the owner saying that there could be an unusual transaction. When the cardholder denies the charge then it’s blocked and a replacement card is sent.
Recently, dynamic cvvs have been making the rounds as the new cvv feature. It’s similar to OTP codes that are generated to ensure it’s the cardholder who’s making the charge. You can also choose to generate a temporary card number for when you feel a website cannot be immediately trusted.
Beware of Phishing Attempts
CVV shops obtain dumps from hackers who successfully attempt phishing via phone, SMS or email.
A CVV shop will have credit cards that work on online purchases. These cards will have been tested on small purchases before they’re sold to the public.
Some of the cards acquired via phishing attempts are sold in bulk in a CVV shop for profit.
It’s easy to fall for a phishing attempt, especially when there’s a sense of urgency. You can be told that your bank account may be blocked, or your card will stop working and they need the information as soon as possible.
To add to the complexity some of the emails will look like they’re real. One way to tell these apart is when they start asking for sensitive information, such as your card’s cvv or security code.
The problem is solved when you realize it’s a phishing attempt. A legit card company will never ask you for sensitive information, such as passwords or cvv codes.