Credit cards are some of the most convenient forms of payment, especially when it comes to online transactions.
However, criminals are aware of this fact and as such credit card fraud has seen a rise from 2014 to 2018.
You can get your credit card information stolen in a number of ways. One indication is when you see an unusual charge in your statement, or when you receive a notification to call your bank because of a charge you never made.
On the other end, a CVV shop acts as the middleman between hackers and those who would want to buy a credit card, complete with expiration date and cvv code.
Awareness is still the best form of protection against safeguarding your financial assets. Here’s a brief guide on how credit cards are stolen and put into a CVV shop.
Data Breach
In recent years some of the biggest companies have experienced a data breach.
The ramifications of such an event are many, including stolen financial data and credit cards.
Keeping safe from a data breach is a difficult task, but it’s not impossible. Ask your credit card provider and see if they have a virtual credit card where a random number is generated without exposing your card’s real information.
A large percentage of the stolen data will go to the deep web and the best CVV shop. Also, hackers will try to test them first with small purchases before cloning them to withdraw cash on ATMs or make a purchase at a brick and mortar store.
Skimming
You may have heard about skimming, but what does it mean?
‘Skimming’ is the process where a thief collects credit cards and duplicates the card. Card companies recently turn to EMV chips to protect against this, but this has led to ‘shimming’ an advanced form of skimming.
These tools can lift card data from the chip itself and are usually installed in a terminal. The ways you can prevent this from happening is to frequent card readers that have more security, such as in banks rather than ones in outdoors.
Also, opt for contactless payment when possible.
Malware Infection
Malware are usually scripts or codes used to cause havoc within a system. Hackers prefer this method of acquiring credit card information since it can be sent to many computers, smartphones and devices with just a single click.
Malware can be sent as an email attachment, a web page or a software update. They can be made to look benign or a copy of something that’s trusted, like a bank or a popular website.
The key to avoiding malware is to not just install anything that pops up. If you don’t really need it, don’t say ‘yes’ and verify it twice. You can also visit the official website to get the software update.
These are just some of the ways credit card information is stolen and sold on a CVV shop. These shops advertise working credit cards complete with expiration date, zip code and cvv at a lower price.
