You don’t want to accidentally lose your hard-earned cash, but have you done everything you can to avoid it? Each year, the financial industry leaks more and more credit card numbers that hackers sell on the dark web. If you don’t want your credit card information to end up in the wrong hands, continue reading.
Every hacker wants to get their hands on hacked credit card numbers. Sure stealing your logins and passwords are useful, but having your financial information is much more valuable. They can sell your details on the black market, drain your lifelong savings, open new bank accounts, take out loans under your name, and steal your identity. This can forever ruin your credit score, making it hard to bounce back from credit card fraud.
Think it won’t happen to you? Let’s have a look at the facts:
Keeping your identity and money safe is harder than ever, but it’s not impossible. All you need to do is be vigilant and take some precautionary measures:
If you can, avoid using your card. Pay by cash or, if you’re shopping online, use a prepaid or a virtual card. Such cards carry less security risks. If leaked they can’t be used to steal your identity. They don’t hold a credit score, they don’t give access to your lifelong savings and it’s much easier to freeze them, so they are your best bet for travelling and one-off purchases. We’ve got plenty more safe online shopping tips here.
One of the best ways to protect yourself is to understand your enemy. Find out more about the most common hacking methods and what phishing emails look like. But also don’t forget to apply similar rules offline. Look for suspicious behavior or situations that don’t seem right. For example, an ATM with unusual card slot might have a card skimmer attached to it. Stay vigilant!
Hackers can use your small mistakes to their advantage, so it’s important to practice good online behaviour. Is your software and antivirus up to date? How strong are your passwords and where do you keep them? Do you save your credit card details on your accounts? Do you ever handle finances while on public Wi-Fi? How much personal information do you publish on social media? All of these are major risk factors!
If you are one of those people who don’t check their bank statements, it’s time to start doing so! It’s important because most hackers will test your card before hacking you or purchasing your details on the dark web. They will send a small charge (a dollar or even a few pennies) to see whether the account is active. Only then will they drain your account. Most people don’t pay attention to small charges and banks don’t pick up on them either.
Also, go paperless. Bank statements sent to your home address carry a lot of valuable personal information about you. These can easily be snatched from your post box, so just use an online banking app instead. Some banks and prepaid cards will send you notifications every time you complete a transaction so it’s easy to spot when something is not right.
Talk to your bank and credit bureau about extra security measures and notifications they offer. Some credit bureaus can send text alerts if they notice that your credit card details or social security number are being sold on the dark web (however, only share your financial information with credit bureaus you and your bank trust). While some banks monitor credit reports to see whether anyone has used your personal details to open new accounts or tried to take out loans.
If you notice any fraudulent activity, question it. You can also contact major credit bureaus and notify them. They will then check your records and provide you with a credit report.
Always use a VPN, especially when handling sensitive financial information, shopping online, using mobile banking apps, or connecting to public Wi-Fi. A VPN encrypts your traffic so hackers and snoopers can’t see your financial information or what you do online.
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