3 credit card security errors and How to secure credit card information

Payment by credit card when shopping for goods or online transactions is very convenient and fast, but this is also the target of scammers, causing many consumers to lose money unjustly.

Recently, cybercrime is on the rise, there have been many cases related to theft of information on cards, fake shopping for users to steal assets up to millions of dollars. Concerned customers in using credit cards.

The main reason comes from 3 security holes that almost all customers have. To ensure the security of the account, users need to understand issues related to the security of credit card information.

1. Disclose CVV / CVC2 number

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CVV / CVC2 number is a security code of a credit card used in international payments, to verify the user's ownership of the card. The 3-digit CVV / CVC code is printed neatly at the bottom of the black ribbon issued by the card-issuing bank and manages the transaction every time the user makes payment or expenditure on the card.

Financial experts recommend that in order to prevent the risk of being exploited by bad actors when using credit cards, customers should remember the CVV / CVC code and delete this code.

If you suddenly receive an email asking you to click on a link or an attachment to reset account information such as your account number or your CVV / CVC security code, you should never provide information. . This is a very dangerous online scam.

In addition, customers should also pay attention to only use credit cards at secure websites or swipe cards at POS machines of major stores and ensure that they are always present while delivering cards to employees. pay.

For safety, customers should choose to use international credit cards of banks equipped with OTP security or other advanced software when making online payments.

2. Shop at fake, disrespectful sites

The simplest and most common way that hackers steal credit card information is to build websites that impersonate popular e-commerce sites.

Some popular online shopping sites like Amazon, or Tiki or Lazada in Vietnam will be attractive targets for bad guys to target, creating fake websites to deceive buyers.

So, before starting a purchase or entering credit card information for payment at any website, make sure it's official and trustworthy.

One trick that hackers very often use to trick shoppers into visiting a website to impersonate is to name the domain the same as the 'official' website and only 1-2 letters different.

3. Carelessness when making payments on POS system

If you've ever used a credit card you will know that making a payment by card is very easy. When paying at stores with POS machines, you just swipe your card and sign the bill. There are many cardholders who are attentive, ready to sign the back of the card for easy comparison.

However, in fact, most payers ignore this comparison step. Partly because of subjectivity, partly because of not understanding the security rules on the card. This has inadvertently created a major security hole.

A lot of customers lose their credit cards and receive text messages from the bank except for the payment of their shopping bills at a certain store.

When you go to the store and ask the staff to show the transaction receipt, the signature is completely different. The money in the card has been lost but the way of handling is not strictly regulated, so it is difficult to resolve.

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Not only easy payment on POS machines, but also extremely fast online payments. Customers only need to enter the card number, expiration date and CVV / CVC code (some stores do not even need to enter this code) to be paid.

This "double-edged convenience" gives credit card information thieves an opportunity to grow with more sophisticated tricks. Therefore, you should delete the CVV / CVC code and use the OTP to confirm the transaction to ensure safety.

In order not to become a victim of sophisticated card scams, customers must absolutely pay attention to the above credit card security loopholes for a timely remedy.

How to secure credit card information

The disclosure of credit card security information not only stems from the greed of hackers, but partly because users are not careful in their security. Here are the things to keep in mind to keep your card information secure:

- Users need to label to cover 3 secret numbers behind the card (CVV / CVC code) or remember and delete it.

- When using a credit card, always make sure that your card is secure from the eyes of others, do not let anyone borrow your personal credit card for payment.

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- When using the card at locations accepting payment, you should only give the card to the employee at the counter, do not give the card to the staff for the staff to run to another location to swipe the card.

- Just go to the website by typing directly into the browser, do not click on strange links. Do not use pirated software because it is easy to install malware to steal your account information.

- After logging into your bank accounts, you need to exit immediately and avoid checking the password saving utility on the page.

Hopefully, with the above information, you can pay more attention to 3 credit card security vulnerabilities and know how to prevent information disclosure, protect your credit account from unnecessary troubles. If you suspect that your credit card information has been leaked, you should immediately contact the card issuing bank for timely assistance.

Kareem Winters

Update 14 November 2020