Protect Your Credit/Debit Cards - Carding Fraud Explained

Overview:

Online fraud encompasses various illicit activities aimed at obtaining sensitive information or money from unsuspecting individuals. Carding specifically refers to the unauthorized use of credit card information to make purchases or conduct fraudulent transactions. Here's a general overview:

Methods of Acquiring Card Numbers:

Phishing: Fraudsters use fake emails, websites, or messages to trick individuals into providing their credit card details.
Skimming: Criminals install devices on ATMs or point-of-sale terminals to capture card information when it's swiped or inserted.
Data Breaches: Hackers infiltrate databases of companies or institutions to steal credit card information stored there.
Carding Forums: Online forums exist where criminals buy and sell stolen credit card information.

BINs (Bank Identification Numbers):

BINs are the first six digits of a credit card number.
They identify the issuing institution and sometimes the type of card.
Carders use BINs to determine which cards are likely to be valid and have a higher chance of approval for fraudulent transactions.

VBV (Verified by Visa):

VBV is a security feature implemented by Visa to add an extra layer of authentication for online transactions.
It requires cardholders to enter a password or one-time code to verify their identity.
While VBV aims to enhance security, it can also pose a challenge for carders attempting to make unauthorized purchases.
Attackers using carding fraud methods have learned to avoid VBV by making transactions below the VBV check threshold.

How to protect yourself:

Regularly Monitor Accounts: Check credit card and bank account statements for any unauthorized transactions.
Use Secure Websites: Ensure websites are encrypted (look for "https://" and a padlock symbol) before entering payment information.
Be Wary of Suspicious Emails or Messages: Avoid clicking on links or downloading attachments from unknown senders.
Keep Software Updated: Install updates for operating systems, antivirus software, and web browsers to patch security vulnerabilities.
Use Strong, Unique Passwords: Create complex passwords for online accounts and avoid using the same password across multiple platforms.