Did you know hackers only need as little as a few seconds to steal your credit card data? It’s true! Recent studies have revealed that your credit card data is the most sought after among other information, and retail was one of the most compromised industries, followed by the food & beverage, and hospitality sector.
Besides cybercrime & data breaches, there are many sorts of security threats that we’ve seen in the last few years. Experts have said, it’s important to identify how cybercriminals hack your confidential data through phishing attacks or credit card skimming and affect your data systems. Most people fail to do that and therefore this can be a reason their credit card information and other private records are compromised. To save yourself from credit card fraud, you should keep an eye on your records and understand how other people around you make mistakes that lead them to become a victim.
What Are The Smart Ways To Protect Your Credit Card Data?
- Consider Credit Cards More Than Debit Cards:
Using credit cards more than debit cards is the best practice to consider especially when you shop online. The key difference between debit cards and credit cards in terms of safety is that your card issuer will fight to get the money back in case of any fraud. When it comes to fraudulent transactions with credit cards, two laws will protect your rights.
FCBA (Fair Credit Billing Act) is the primary law where if you report that the card is stolen or lost before any fraudulent activity occurs, the liability becomes zero. For all fraudulent transactions, many credit cards offer zero liability. In short, you get your money back with less hassle through credit cards as compared to debit cards.
- Vet Online Sites While Making Any Purchase:
It is always recommended to use reputed and familiar sites while making any online purchases. It may seem quite tempting to get free shipping, easy returns and many exciting offers, but you should always choose a trusted and secured platform when shopping online. The Internet Crime Complaint Center of FBI has said that the most cybercrimes happened in 2017 were related to online shopping.
Even in the survey, around 25 percent said that they have experienced cyber-attacks such as credit card fraud, malware and even ransomware. Thus, you should always use a familiar online site and remember is to choose sites that are encrypted and secured- look for the lock icon or HTTPS in the address bar to ensure your data safety.
- Use a Self-Destructing Credit Card:
With the advancement in technology, cybercriminals and online hackers are going to try and find new ways to access your credit card data. This is where the importance of self-destructing credit cards comes into existence. Self-destructing credit cards, also known as virtual credit cards, are credit cards that have randomly generated card numbers that are associated with your original credit card, per PC Magazine. The generated numbers are temporary and can only be used once. They’re considered the wall between your regular account as well as your transaction account.
Virtual credit cards can provide you with another layer of protection from any fraud. Virtual credit cards can be requested every time you want to make a new online transaction. If a hacker does steal these numbers, they’re useless to them since the same numbers cannot be used again for making other purchases.
In today's age of information, your credit card information is at higher risk for theft. Following the aforementioned tips will help you to keep your credit card data safe. Moreover, you should be alert while using your credit card online. It is advised to not to click any suspicious links in your email, even if they look legitimate, unless you’re absolutely certain of its safety. Some links can be used in phishing scams to trick you into becoming a victim of credit card fraud or other malicious activity. You should only enter your credit card details on the sites you trust.
Read more about phishing attacks at Learn what’s a Phishing Attack and How to Not Fall for It?
You can take expert assistance from any reliable managed IT company to avoid such risks and take proactive steps to stay safe online while using your credit card. A managed IT company deals with the issues that you or your business may face due to any cyber hacks.