What is skimming, phishing or Vishing? Credit card thieves are found almost in every country. We need to know the steps to keep our credit cards secure They also use advanced technology to illegally attain credit card customer data. And also supported by black hat technologies, they have a variety of methods used as a credit card theft mode. Some of them are listed below. In this post we’ll be sharing the legitimate details about what is skimming, phishing or vishing.
Hacking the data at the point of sale
Generally banking data methods have such tight security that they are less likely to be compromised. The chance is to hack the data system at the point of sale, namely merchants who accept credit card payments, can be shops, hotels, eating places, and others.
Credit card thieves are of generally diverse kinds, both individuals, groups, and even syndicates who have substantial systems in carrying out the action. They set up malware on the data system at the point of sale, to record data on each payment card used in the transaction. Not surprising this hacking can take card data from hundreds or even thousands of credit card owners.
What is skimming, phishing or Vishing?
Details of What is skimming, phishing or Vishing? given below:
What is Skimming?
Answer: You could already be acquainted with this one function, skimming. Skimming is performed by using electronic devices on transaction machines for example ATMs or EDC (Electronic Data Capture) . This electronic skimming device is used to illegally copy the information contained on the credit card’s magnetic strip.
In carrying out the illegal action through skimming mode, the thieves also use a small camera to capture the PIN (Personal Identification Number) which is entered in devices. From the skimming device placed on the transaction machine, it will be connected to the thief’s computer. Consequently, they can acquire credit card customer data easily, without stimulating mistrust from the card owner.
What is Phishing?
Answer: Phishing is a mode used by credit card thieves to get private information from card holders for example user identity, security passwords, and other crucial data by posing as an authorized person or agency via email. The system is that the thief sends an email that contains a link that directs the target to click on the link. If the target enters a trap by clicking the link, then automatically the personal data can be easily acquired by the thief.
What is Vishing?
Answer: If the phishing mode uses email to get credit card customer data, then vishing uses the telephone. The thief pretended to be one of the card issuing bank employees who asked customers directly about credit card data.
This mode was basically extremely powerful because it takes a lot of victims. The disguising of a thief as an employee of a credit card issuing bank is enough to convince the victim to voluntarily provide the required information without suspicion.
But now there are many credit card customers who increase their vigilance so they are not easily fooled by this vishing mode. They will not be willing to provide personal data or information asked for by telephone.
What is credit card theft?
Advanced technology must have a proper check and balance. Likewise, the technology found in non-cash payment instruments in the form of credit cards must also be fully safe for a normal buyer or user.
Behind the convenience, practicality, and quickness of transactions offered, credit cards also have some weakness, especially in safety measures. Credit cards are still stolen or hacked by hackers from all around the world.
Turn on notification for each Debit
Many cases we have seen both in Pakistan and abroad about credit card robbery, where someone does a financial transaction with someone else’s credit card, then the costs of these transactions are charged to the credit card holder. This is obviously harmful to credit card owners, who do not carry out these types of purchases.
Each payment notification must be on because sometimes we can inform the authorities if someone is busy in doing series of transaction or puts wrong password.
The fact is credit cards are vulnerable to theft. This theft is performed to get the personal customer data. But it did not rule out the possibility of credit card physical theft. The theft of credit card customer data is clearly meant so that criminals can shop and purchase different desired items fraudulently. Moreover, credit card theft also aims to get funds by doing cash withdrawals. Everyone is at risk especially there are electric and magnetic devices which can read the data from electric strip.