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Showing posts with label Credit Card Fraud. Show all posts
Showing posts with label Credit Card Fraud. Show all posts

9.09.2016

Digit Security Code 2

3-Digit Security Code
Proof that your card is in the right hands

The 3-digit security code shown on the back of your Visa card lets merchants know that you're physically holding the card when you make a purchase online or over the phone. It's yet another layer of protection Visa implements to prevent fraud before it happens.

How it works

1.
Shop online or by phone
The three-digit code authenticates your identity.
2.
Provide your 3-digit security code
This assures the merchant that you have your card in hand.
3.
Card issuer validates your code
The code is validated automatically during authorization. Merchants are not allowed to save codes.

Shop online or by phone

Shopping online or by phone – where a merchant can't verify your identity in person – always involves an element of risk. The 3-digit security code on your Visa card assures both merchants and consumers that the card is in the hands of an authorized user. If someone obtains your account number, he or she can't make a purchase without the security code.

Provide your 3-digit security code

You can find the 3-digit code on the back of your Visa card, next to your signature. You may see other numerals there, but only the last three digits make up the security code, which is also sometimes  referred to as the "CVV2 code."

Card issuer validates your code

When you give a merchant your CVV2 code at checkout, that information is sent electronically to the card-issuing bank for verification and authorization. If a person attempts to use your card number but cannot provide a 3-digit security code, or if the number is returned as invalid, the merchant will cancel the transaction. For security purposes, merchants are prohibited from storing this number.
Quick Tip
Never write down your PIN. Memorize it and keep it safe
More tips >

Questions?
Call the Visa Global Customer Assistance Center at (800) 847-2911
source

9.25.2015

Digit Security Code

3-Digit Security Code
Proof that your card is in the right hands

The 3-digit security code shown on the back of your Visa card lets merchants know that you're physically holding the card when you make a purchase online or over the phone. It's yet another layer of protection Visa implements to prevent fraud before it happens.

How it works

1.
Shop online or by phone
The three-digit code authenticates your identity.
2.
Provide your 3-digit security code
This assures the merchant that you have your card in hand.
3.
Card issuer validates your code
The code is validated automatically during authorization. Merchants are not allowed to save codes.

Shop online or by phone

Shopping online or by phone – where a merchant can't verify your identity in person – always involves an element of risk. The 3-digit security code on your Visa card assures both merchants and consumers that the card is in the hands of an authorized user. If someone obtains your account number, he or she can't make a purchase without the security code.

Provide your 3-digit security code

You can find the 3-digit code on the back of your Visa card, next to your signature. You may see other numerals there, but only the last three digits make up the security code, which is also sometimes referred to as the "CVV2 code."

Card issuer validates your code

When you give a merchant your CVV2 code at checkout, that information is sent electronically to the card-issuing bank for verification and authorization. If a person attempts to use your card number but cannot provide a 3-digit security code, or if the number is returned as invalid, the merchant will cancel the transaction. For security purposes, merchants are prohibited from storing this number.
Quick Tip
Never write down your PIN. Memorize it and keep it safe
More tips >

Questions?
Call the Visa Global Customer Assistance Center at (800) 847-2911
source

7.25.2015

cvv number

Visa®, Mastercard®, and Discover® cardholders:
Turn your card over and look at the signature box. You should see either the entire 16-digit credit card number or
just the last four digits followed by a special 3-digit code. This 3-digit code is your CVV number / Card Security Code.

cid
American Express® cardholders:

Look for the 4-digit code printed on the front of your card just above and to the right of your main credit card number. This 4-digit code is your Card Identification Number (CID). The CID is the four-digit code printed just above the Account Number. 


10.06.2012

credit card fraud statistics


Card fraud strikes millions of times every year and is one of the fastest growing white-collar crimes. At American Express Middle East, we work closely with law enforcement authorities to fight Card fraud and invest heavily in customer and retailer education that can help minimise the incidence of Card fraud.

The information and services in the Fraud Protection Center can help reduce your chances of becoming a victim. We are committed to preventing lost, stolen or unauthorised Cards from being used and will move quickly to halt their use and prevent unauthorised charges.


Anti Phishing Alert:

You may receive an email or SMS that asks you to disclose or complete an American Express Middle East Customer Form as a security measure. This is false!

American Express Middle East will never ask you to verify your details in this manner. Should you receive any messages by SMS or emails from American Express Middle East asking for your Card Number and/or security details, please contact our 24/7 Customer Services immediately on +973 17557755 for assistance. By following helpful tips about using your Cards wisely, you can significantly lessen the chances of being a victim of Card fraud.


visa credit card fraud protection
credit card fraud statistics

Identity theft and credit card fraud are not the same crime, though the two are often lumped together as one. Identity theft is much more far-reaching than credit card fraud. When a criminal steals you identity, they may have financial motivation, but you'll suffer more than fraudulent charges on your credit cards.

Identity thieves may change account information, create new accounts, use your identity to commit crimes, and even use your identity to establish a new life. Credit card fraud, on the other hand, is limited to charges on stolen credit card numbers. A criminal gains access to your account number and then uses it to purchase products online or in person and then resells those goods to get the cash.

So, if credit card fraud is not identity theft, why address it? The simple answer is because credit card fraud can be an element of identity theft. It can also lead to identity theft.

Preventing Credit Card Fraud


Preventing Credit Card Fraud

Credit card fraud is a crime that can often be prevented. For example, something as simple as a signature on the back of your card could prevent the card from being used if it’s been stolen. Even better, put the letters CID (which stands for See ID) on the back of the card. Then when a merchant attempts to verify the signature on the receipt with the card, they’ll request to see your identification.

Everyone is familiar with the basics of protecting your credit card. Don’t loan it out. Don’t leave it laying. And don’t give the number to someone you don’t know without first verifying they are legitimate.

But there are lesser known strategies for protecting your credit cards and card numbers, too. And these are the strategies that you should know well and use constantly.

  • Keep your card in sight. Whenever possible, keep your credit card where you can see it. Some places, like restaurants, take your card away and then bring it back after they’ve secured authorization for a transaction. It’s when the card is out of your sight that it’s often swiped through a card reader that stores the information from the magnetic strip for criminals to use to create a duplicate card later.
  • Ask about multiple swipes. It’s not uncommon when you hand a merchant your card for them to swipe it more than once. Usually, this happens because the card reader doesn’t read the magnetic stripe on the back of the card, but savvy criminals will also use a second swipe as a method to copy the information from the magnetic stripe to a storage device to later be transferred to a duplicate card. If your card is swiped more than one time, always ask why.
  • Never use your credit card on an unsecured Web site. A secured Web site will have a small lock in the lower right corner of the page, or the status bar for the page. If the lock doesn’t appear there, then the site is not secure. Don’t use your card on an unsecure site, because anyone with a little skill can capture the number and use it for their own purposes.
  • Never carry multiple cards. If you lose your wallet or purse, you lose everything that’s in it. Another danger here is that someone will go through your wallet or purse when it’s left unattended and steal just one card. Leave any card you won’t be using at home, and try to stick to putting all of your purchases on just one card.
  • Never give out your credit card number while you’re on your cell phone. Cell phones have become such a large part of our society that we often forget everyone around us can hear our conversations. If you need to provide your credit card number for a purchase while on the cell phone either request to call the company back from your own home, or find a place that’s private (like inside your car, alone) to provide the number.
  •  
  • Consider purchasing pre-paid credit cards for online shopping. Pre-paid credit cards are one of the best ways to protect yourself. You load the card with a set amount and then use it just as you would a regular credit card. The good news is, if the number is stolen or the card is lost, your liability and the amount of damage that’s done is limited by the money that’s available on the card. As an added bonus, there’s no interest on a pre-paid card since technically you’re spending your own money, anyway.

Credit card fraud may not be actual identity theft, but it’s often a step along the way. And even if the criminal that fraudulently charges your card isn’t interested in your identity, the expense and frustration of dealing with credit card fraud is reason enough to protect yourself.

Be smart. Use caution. And always be aware of how your credit card is being handled by someone else.

Identity theft and credit card fraud are not the same crime, though the two are often lumped together as one. Identity theft is much more far-reaching than credit card fraud. When a criminal steals you identity, they may have financial motivation, but you'll suffer more than fraudulent charges on your credit cards.

Identity thieves may change account information, create new accounts, use your identity to commit crimes, and even use your identity to establish a new life. Credit card fraud, on the other hand, is limited to charges on stolen credit card numbers. A criminal gains access to your account number and then uses it to purchase products online or in person and then resells those goods to get the cash.

So, if credit card fraud is not identity theft, why address it? The simple answer is because credit card fraud can be an element of identity theft. It can also lead to identity theft.           

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