Your savings can disappear in seconds with the scam becoming fashionable in Spain. It is known as ‘Carding’ and the banks are very worried. This fraud takes advantage of credit card vulnerabilities to leave your account with zero. The banks have already sounded the alarm and OCU shared a series of tips to avoid falling into the dreaded ‘carding’ and thus avoid fears with our savings.
It’s carding: the scam that empties your bank account in seconds
The name “carding” derives from the word “card”, which means card in English, and describes a process by which cybercriminals They use stolen card information to make fraudulent purchases online.
Carding is done in two phases: The first is when criminals get their hands on the card details, and the second is when they use them. to purchase products or services. To obtain the data, cybercriminals can use different methods, such as phishing, malware, physical theft or card cloning. They can also use underground forums where card numbers and their security codes are sold and bought.
Once they have the data, criminals test them on e-commerce sitescarrying out small transactions to check if the cards are valid and have not been blocked. These transactions are generally for small or identical amounts and are made from the same IP address or with the same billing information. They may also use computer programs that generate random card numbers based on the BIN (Bank Identification Number), which are the first six digits of the card and identify the bank and card type.
If the transactions are successful, the criminals They make larger purchases or sell the data to other fraudsters. Some even contract online subscription services, such as streaming platforms or games. The goal is that these purchases go unnoticed by the user for as long as possible, or that they are confused with legitimate charges.
Carding is a threat to credit cards for both customers and merchants. Customers may experience financial losses, damage to their credit history, and emotional stress. Merchants may face chargebacks, loss of product and reputation, and fines if they fail to comply with security regulations.
How to avoid being a victim of carding
To avoid being a victim of carding, there is a series of preventive measures which can be taken, both by users and sellers. Here are some of them:
- Use secure networks when making online payments or banking transactions. Avoid public or unknown networks that could be compromised.
- To use prepaid cards for your online purchases and deactivate the NFC from your cell phone when you are not using it.
- Do not share your card or bank account information with anyone.. Do not respond to emails, text messages or phone calls requesting personal or financial information. Be wary of deals that are too good to be true.
- Periodically review transactions and charges made with cards. Alert the bank or issuing entity if a suspicious or unauthorized transaction is detected.
- Install updated antivirus and antispyware programs on devices from which the Internet is accessed. You should also protect them with strong passwords and change them frequently.
- Use additional verification systems when paying onlinesuch as the CVV code (Card Verification Value), the PIN (Personal Identification Number) or the 3D-Secure (Verified by Visa, Mastercard SecureCode or American Express SafeKey). These systems add an extra layer of security by requesting information that only the cardholder knows.
- Activate and deactivate cards according to the use that will be given to them. Some banks offer this option via their mobile applications, allowing cards to be temporarily blocked when not in use or to limit their use based on the type of transaction, amount or location.
- Set alerts to receive notifications when a transaction is made with the cards. Some banks also offer this option via their mobile applications or by email or SMS.
Carding is a type of fraud that can affect anyone with a credit card. This is why, It is important to be informed and take precautions to avoid becoming a victim of this crime.. So you can enjoy the benefits of online shopping with complete security and peace of mind.
