Have you ever wondered why so many card frauds happen all the time? Credit/debit cards are supposed to be private assets and only the person who is allocated the card should be able to use it, right? There are several reasons why card frauds have become so common and evolved these days; fraudsters have gone from taking out cash from ATMs to making fraudulent online payments using someone else’s cards.

Let’s look at a few reasons for the same.

• With an increase in online shopping among people, the amount of credit/debit card details being saved online is also increasing. Hackers try to harvest this information and use them for their selfish purposes.
• Hackers lookout for new players: New e-commerce websites with sub-optimal security for saving card details become the worst victim of hackers as these websites are often targetted for data breaches.
• Another very popular method of card fraud is “Skimming”. In this, the crooked hackers put a cloning device in places where you swipe your cards like ATMs, Petrol Pumps, and restaurant card swiping machines. These devices capture the card details and make a clone of your card which is later sold in the black market.
• Also, every card details harvested in such a data theft is put on the dark web marketplace for sale in exchange for bitcoins.

If you are an internet user then it is highly likely that you have left a lot of your financial and card related details on multiple websites till now. But there would be a question you might ask here, even if someone has your credit card details, still they would need an OTP to make any transaction, right? Well not always, if the online merchant is of any other country like USA, the OTP is not required for that. A transaction can happen just by entering your credit card details on such websites!!

But what in case you happen to be one of those people whose card details have been compromised and is lurking in the alleys of the dark web marketplace?

Well, that’s where IDFence can come handy. It monitors your Debit Card, Credit Card numbers, Bank Accounts, PAN, Email Ids,  on Dark Web, illegal theft forums, etc 24/7 and sends you a notification whenever it detects your information available on such wrong places. 

That’s all from us today. Don’t forget to subscribe to our blog to get information about data breaches, daily tips to keep your personal information secure, and much more at your inbox.

And most importantly, STAY HOME STAY SAFE.