The internet is awash in news of hacks and data breaches, indicating that your financial and personal information aren’t secure enough. This also applies to your payment card.
Consider the well-publicized data breach of Capital One, a credit card firm with over 106 million users whose personal information was compromised.
Because there have been so many cases, it’s apparent that data breaches have become routine, and it’s critical to safeguard oneself in order to prevent becoming the next victim.
Hackers are increasingly seeking for firms that hold your personal information, which makes it extremely difficult to protect yourself.
Regardless, there are a few things you can do to protect yourself and limit the harm if hackers manage to hack a firm that has your payment card information. Continue reading this article for advice on how to prevent being a victim of online credit card fraud.
All of your online purchases should be made using a single credit card.
Nowadays, shopping has gotten incredibly simple. Actually, you do it from the comfort of your own home or workplace using your mobile devices. Banks are still pushing online purchasing by giving specific payment cards for the purpose; nevertheless, exposing numerous accounts may raise your risk of data breaches.
Designating only one credit card for online transactions is one of the most effective strategies to reduce the danger of credit card hijacking. This makes it simple to look for unusual charges or transactions.
You may also utilize a guest profile to pay for your purchases rather than having a personal account that requires you to keep your payment card information. When you establish an account, you may also set up email or text message notifications.
Select a Virtual Account Number (VAN).
To combat the rising number of credit card breaches, the majority of payment card issuers are now offering virtual number services. This implies you can receive a one-time card number for every online purchase transaction.
That way, your actual card information isn’t displayed during the checkout process; instead, your transaction activity is tracked by the temporary number connected to your account.
As a result, if the eCommerce website is later compromised, hackers will not be able to access your real credit card information.
Purchase from Trusted Online Stores
There are several internet companies vying for your business; however, some of them are not real and were formed just to defraud you. As a result, don’t do business with unknown sellers, no matter how reasonable their pricing are.
Instead, do your homework, study internet evaluations, and examine their website design and approach to you. Buy from trustworthy, well-known eCommerce sites instead than ones that appear amateurish or offer excessively low costs.
Be wary of phishing scams.
While a hacker may obtain your credit card number, they will lack the 3-4 card verification value (CVV) number as well as the expiration date. Hackers will attempt to contact you via email or phone in order to obtain further information.
As a result, do not give out your personal information to anyone unless you have phoned the firm directly. Keep track of the company’s phone number and ignore unwanted emails and phone calls.
You can contact the corporation to verify that it is the source of communication or that the individual who phoned you is genuine.
Passwords should be made up of random letters and numbers.
Even if you follow the password guidelines, criminals can effectively crack your password. Creating a strong password with random numbers and characters and changing it regularly, on the other hand, can help keep them at bay. Hackers will most likely be able to crack a password that is easy to remember.
Additionally, use digital security features such as two-factor authentication, which gives you a one-time code to your mobile device. This adds a second degree of security because you need a mobile device to obtain the code, so any unauthorized attempts to access your account will fail.
In addition, new forms of authentication, such as Touch ID and Face ID, are gradually displacing the traditional password. You can use them to access or deal with your financial information.
Limit the number of transactions that are declined.
To carry out fraudulent transactions, hackers employ malicious software scripts. That implies they may test a variety of credit card numbers in order to discover what works.
However, there is a cost associated with a refused transaction, and the answer is to limit the number of times a credit card number may be entered erroneously.
As a result of this configuration, when the allowed number of tries is surpassed, the payment card provider will ban the card, and your account will be protected.
When shopping, use a secure network.
Hackers are targeting individuals using public Wi-Fi while the number of cyberattacks is on the rise, especially on small company websites compared to larger organizations. You may, however, prevent being a victim by only shopping on safe, trusted websites.
Still, because thieves might intercept data and access your private financial information, account passwords, banking credentials, and other details over public Wi-Fi networks, you should avoid transacting on them.
The article has provided you seven suggestions to help you prevent being a victim of payment card hacking online, but there is much more you can do to avoid becoming a victim. One of them is to be proactive, and following these tips can reduce the danger of purchasing online.
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