Can Your Credit Card Data Be Stolen by Cyber Criminals?

Advancement in technologies has been beneficial in many ways, but at the same time left users vulnerable to frauds of all kinds including theft of your credit card data. Fraudsters are continuously devising new ways to steal your credit card details and other personal information that provides access to your hard-earned funds. 

Your credit card details can be stolen at any online site or shop or any other place where you use it. However, you can prevent this by being alert and aware of the various ways in which your credit card data can be stolen. Before you apply for a credit card, research ways to keep it safe.

How Can Credit Cards Be Misused?

Contrary to popular belief that your credit card can only be misused if it is stolen or lost, the fraudsters can do their work even if they have access to your credit card details like the number, CVV, and expiry date.  

Access to these details means that they can fill in these details online and use your card to make all kinds of transactions. And they can easily get access to this data from sources ranging from restaurants to online shopping portals where you have saved all your details. 

Here are some ways in which your credit card data can be stolen:

1. Data Breach

These hackers are quite smart and often get access to a huge amount of information by stealing the credit card data and personal details of a bank or a retail business or any other institution having a large customer base.

2. Use of Public Wi-Fi Systems

Using your credit card via a public WI-FI or internet system makes you vulnerable to phishing attacks. These networks may be compromised and easily accessible to outsiders. So, if you intend to use your credit card when you are travelling or out of your home, ensure that you get a VPN or private Wi-Fi.

3. Phishing E-mails

Your mailbox often contains e-mails with attractive offers asking you to click on a link or visit a site where you need to fill in your credit card information. Similarly, you may get calls offering you attractive prizes or schemes that can be availed of only after you provide your personal information and credit card details. 

Such calls and messages are sent to defraud you and use your crucial information to steal money. Don’t fall prey to such e-mails and calls. Again, e-mails claiming that you are eligible for a pre-approved credit card or that you are eligible for special offers should be verified by calling up your bank.

4. Skimming or Copying Your Card details

A very common technique used by fraudsters is to copy your card details when you are easily at a shop or a restaurant. So, beware and stay alert when using your credit card whether online or offline. If you find anything suspicious, do not use your card.

Once stolen, your credit card information can be used not only to make large purchases but also to withdraw large amounts from your account. So, it is better to be aware and cautious at all times. Keep your credit cards safe and do not share their details with anyone.