Credit Card, Identity Fraud Spike Despite Security Chips
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- Опубліковано 31 січ 2017
- Credit card and identity fraud are at their highest levels in more than a decade, despite new security protections implemented by credit card companies. WSJ's AnnaMaria Andriotis and Tanya Rivero discuss dangers associated with online shopping and how consumers can protect themselves. Photo: Bloomberg
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One thing I love about my bank is that they have the mobile banking app and one feature is whenever my card is used,I receive an instant notification and if I realise I didn't do that transaction,I can actually shut my card off instantly so if its any fraudulent activity,the person(s) won't be able to use the card or card info again
The main reason not everywhere has the chip-enabled consoles...and depends on the security requirement if a 4 pin number code to complete the transaction as there are some readers that don't require it.
For one security chip cards cannot be bypassed to be copied - the only information criminals can get is by the magnetic strip that are copied by skim devices and transferred to blank readied cards or can be read and displayed digitally on PCs and laptops - their methods are either masking fake covers on ATMs, swipe consoles, and installed inside of gasoline pumps [ the fault of these pumps is having a universal key that can open the access panels ] However there is a failure to combat the breaches by criminals to be effective; some gas stations are using security tape but are not checking them during business hours as I seen many are cut or peeled off?
The locks should be changed w/ special access keys that cannot be copied and is pick proof - As the gas companies to gas station owners don't want to spend the money!
As consumers who are using their credit and debit cards should be taking extra precautions to safeguard their cards and be informed and aware of skimming tactics being used and there are times like in restaurants whereas our cards end up being taken by a service person to charge your cards out of sight with the potential individual might skim your card w/ a device or take photos using their mobile phone to get the card's information front and back [ that has your signature and CVR # ].
Cardholders would have to monitor your bank accounts more often to check for fraudulent charges and report them as soon as possible and those using credit cards is to check your statements and if you have online access to those cards is to do the same.
Chipped enable cards that are lost or stolen can still be used to make transactions on non-chip readers machines or chip readers that don't require a 4 pin code.
One when you use your card instead of giving out your secret 3 digit code you would receive a text and then you would have to type a separate number that will change with the 3 digit number on the back of the card. If you have a special pin and you do this this could help with this happening. If a person had to hold their finger over a fingerprint reader or along with a chip in the card the card would have an area where you would have to place your finger while your card is inserted in a chip reader at a store etc. The other thing is there is that card that was shown on TV that you could load more than one card on it at a time and if all new credit & debit cards had to be made like this a real time fingerprint detecting device could be placed in the card and when you place your fingerprint on the card the card will broadcast your the one holding your card and when you enter info from a text to verify that you are who you are then you could make your purchase. If you have a fingerprint reader on your mobile device that could be a secondary form of protection.
What makes card safer are visa verification etc very hard to brake the easy way is to use rfid or scan/swipe
There card and copy it
what if i told you i could reset your VBV pw, then what?
chip is the worst invention ever
Why? It makes payments more secure
We have to get these money regardless
Or maybe just use a two-step authentication system for online transactions., like we have in India since the beginning and enforced by Reserve Bank of India. Not a penny moves from my account unless I confirm.
2FA is definitely good advice, but with the right info, even that can be bypassed... RDP and injecting cookies are no joke
@@kornkid2004 it can be bypassed, but it's much more difficult
Now you need to clone the chip with emv software, get a valid dump with pin
FINESSE GANG
lol
T
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*DAWGGOAT* Got the big vibe when it comes to cash out on cards. He never failed me with that I always got both cc info or atm cloned card lit from him. He have helped me alot with his honest business, I really appreciate him💯