In recent years, due to advancements in technology and smartness, crimes have been increasing. Especially cyber crimes and forgery crimes. These fraudulent crime doers are so good at it that they merge with the crowd and look like honest citizens. It might not be possible to catch everyone present in a corrupt society, but it is possible to protect ourselves from it.
One crime that is growing in popularity is card dumping. Here are some things you need to know about card dumping and how to protect your cards from getting dump pins by others involved in the business.
In this crime, the credit cards are copied or forged to make another one with the same CVV number. The CVV number is used to get other details of the card and the account from where more details can be extracted. This information is either used to get money out of their accounts or bait the users into bringing them money.
The cybercrime in which the PINs are used to extract information about the account is called PIN cashing. These are mostly from stolen credit and debit cards, whereas cash dumping is the cloning of existing cards through other information.
Working Of Dumping
There are two ways in which dumping occurs. Either through skimming or obtaining a large number of credit card numbers by hacking into computer systems of retailers and bankers. In skimming, an illegal card reader is placed in ATMs or gas stations. As the cards are used in these places, the card reader reads the card details and sends them to the one operating the reader. In this way, the details of each of these cards used are at the fingertips of these crime doers.
Hacking into the companies and retailers that handle all these credit and debit cards is also another way to get card details. In this case, they can get the details of a large number of cards in a single attempt. These card details are then sold in the black market to get profits. Infecting the POS of large retailers gives all your card details in their pockets.
Going Against Dumping
The best way to go against credit card dumps, PINs and security locks is to be applied to the account and cards. This is one way to ensure that no one else can access your information apart from the ones who know this information. Companies also work their best to protect your cards. They have several systems in place.
AVS and geolocation are the top-notch services to protect your cards. AVS systems record the billing address, ZIP match codes are immediately collected after the transaction and sent to the system. In the IP geolocation check, the IP address of the card owner and the billing system is checked. If there is a difference in their location, then it gives a red alert and blocks the transaction. Even CVV is an attempt at stopping fraudulent activities against credit card dumping.