Question 1

How do credit card numbers get stolen?

Accepted Answer

Personal documents: While protecting yourself online is vital, you should also protect yourself from old-fashioned hazards like financial paperwork. Someone could take sensitive documents like a bill, bank statement, or credit card statement from your mailbox or even your trash. Shred these papers before throwing them out to protect yourself from identity theft and fraud. This blocks thieves' access to your: Credit card account number (even the last four digits can be used by thieves). Social Security number. Full name and address. Transaction information. Phishing: Phishing emails and phone calls are common tactics that trick people into sharing sensitive personal and financial information. The caller or sender will try to convince victims to either offer up that information directly or click a bad link that installs malware on their computers. If someone calls or emails you claiming to be a financial institution requesting personal information urgently, it's unlikely to be legitimate. Most financial institutions never ask you to send your information via email or phone. Keep an eye out for generic email addresses that have misspellings or otherwise don't appear to come from your financial service provider. Likewise, always confirm the phone number if a financial institution calls you. Unaffiliated email addresses and phone numbers often point to phishing. Malware: Malware is a type of phishing software designed to take your information, access your network, or otherwise disrupt use of a device. Be careful what you click on, as cybercriminals trick users into installing malware themselves by getting you to click on an unsafe link. One type of malware records every keystroke, including your credit card number, as you type it into an order form. Don't download anything on your computer unless you have validated or otherwise trust where it's coming from. Public Wi-Fi: Public Wi-Fi may be convenient, but it can open you up to the possibility of fraud. Public networks are unsecured, which leaves your information vulnerable to many security breaches. If someone breaches the Wi-Fi network, your device can be vulnerable too. How to stay safe on public Wi-Fi? Don't open sensitive documents or financial websites on public networks—hackers can use these networks to access your account numbers and passwords. Card skimming: According to the FBI, card skimmers are devices that thieves attach to ATMs or payment terminals to capture the digital information on your card. The perpetrator may use that information to create fake debit or credit cards or access your data. Data breaches: A data breach occurs when an unauthorized person accesses sensitive or protected data from a business. Often, hackers access customer or client data from large institutions such as banks or retailers. They might sell information like credit card numbers, names, passwords, and Social Security numbers. Alternatively, they might use it themselves to commit identity theft or make fraudulent transactions.

Question 2

What to Do If Your Credit Card Information is Stolen

Accepted Answer

According to the Consumer Financial Protection Bureau, federal law limits the amount of money you're liable for in case of a lost or stolen card. However, your protection depends on how quickly you report the missing card. Many card companies also offer protection for cardmembers and limit their liability for losses. If someone steals your credit card information, make sure to contact your credit card company immediately.

Stolen Credit Card Numbers

Key Takeaways

Did you know?

What Is Credit Card Fraud?

How to Report Credit Card Fraud

Protect Yourself from Synthetic Identity Theft

Credit Card Fraud and Account Protection