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In today's world of digital information, it is unlikely to find a person who does not have a bank card. The presence of virtual digital money or bank cards has given rise to fraud schemes targeting the money stored on a bank card.
Card Fraud
Card fraud has several aspects, scammers try to extract as much money from the victim as possible - this can be a demand for investment, a large money transfer, a charity contribution, help to a relative.
For a scammer to carry out their malicious act and deprive the victim of money, certain information is required, which includes:
- personal card details;
- banking data, PIN code, CVV code, and other possible passwords that allow access to the bank card, so it is recommended not to disclose this information to strangers;
- keep passwords in secure places and do not carry the written password with the card.
A scammer can easily obtain this information, and before you know it, you could be left without your savings.
How Money is Stolen from Cards
If a scammer has all possible data about a bank card, they can easily use internet banking, log into the personal account, check the amount of money in the account, and easily transfer it to another account.
Scammers can also use a skimmer - a device that illegally attaches to an ATM and reads information from the card's magnetic stripe when it is used inside the ATM. Having obtained this information, scammers can easily recreate clone cards, from which money can be withdrawn at a regular ATM.
An equally common method is auto-payments. After paying an unknown company or fraudulent organization, an auto-payment or automatic deduction function may be automatically activated. This function may go unnoticed until the first request for automatic deduction occurs. It's important to carefully monitor the settings in the card's online banking.
Protection Against Bank Card Fraud
To protect yourself and safeguard available bank cards, it is necessary to be vigilant and adhere to some safety rules:
- under no circumstances should you provide bank account information to strangers;
- to protect accounts, be sure to use two-factor authentication;
- when making online payments, set up SMS notifications to detect money deductions;
- regularly check account statements to monitor fund movements;
- do not click on unknown links from unknown users.
These simple rules can help secure funds, the bank card, and allow you to monitor all ongoing processes.
Card Skimming
As mentioned above, scammers use card skimming to withdraw others' money - these are clones of real cards created after a special device reads the card's magnetic stripe, and a fraudster, having special equipment, can create a similar card. It will be identical to the stolen one. However, there is one nuance, if the scammer does not have full information and does not know the PIN code, it will be more difficult to withdraw money from such a card, so scammers often try to install hidden video cameras directed at the keyboard on ATMs.
Scammers manage to install equipment on ATMs not affiliated with banks, often using such equipment on isolated ATMs at gas stations, small remote stores, standalone ATMs. If you have to use such an ATM, to preserve information, it is recommended to cover the keyboard with your free hand so that scammers cannot record the PIN code.
Card Data Theft
The most common way to steal money from a card is for a scammer to pose as a bank employee and try to extract the necessary information. This method is called phishing, the scammer may send an email asking to confirm account details, even though the request did not come from the bank. If personal information is required, it is worth considering whether this is really a bank employee.
An equally common method is theft using public Wi-Fi when a public wireless network is used to access banking. At this moment, a scammer nearby may use Bluetooth to record the relevant information.
Safe Card Payments
For cashless payments by card, it is important to know that entering a PIN code is not required, it's enough to enter the card number, its expiration date, and the secret CVV code written on the card. Sometimes an additional password is required, which works once, so that the bank reacts to the internet payment and is sure that the payment is made by the owner. Often, additional authentication with access to the online banking personal account is required to prevent unauthorized interference.