The most common crime that occurs from gangs in the dark web is stolen credit information and subsequent credit card fraud. Yes, gangs on the dark web exist and often use theft or … Read More
Card not present fraud occurs when a credit card is used for an unauthorized transaction, without an actual card being presented to a merchant. An example of this would be a stolen credit card number (and details) being used remotely by a thief – for an online purchase, mail order transaction, or phone purchase.
According to the 2017 Nilson Report, worldwide gross credit card fraud loss for merchants and issuers sits at $24.26 billion in 2017 and is anticipated to reach $34.66 billion by 2022. If banks and credit card companies experience the brunt of this financial loss, why does this impact you?
First, it’s important to know that financial fraud affects much more than the banks; both merchants and issuers also lose money when goods are stolen. Often you may not even realize your credit card details have been taken remotely. This means you might yet have received unauthorized charges and be paying for additional transactions without realizing it.
Other times, a hacker might steal all of your information and open up multiple credit cards in your name, which can ruin your credit. Card not present fraud is different from traditional stolen credit cards. You’ll often still have the credit card safely in your wallet or purse, and not realize it has been compromised. With the increase in popularity of online shopping, it has made this type of fraud even harder to identify.
While online scammers may seem to be multiplying in numbers and harder to catch, consumers can do their part to protect themselves. While education is vital (reading articles like this and sharing them with friends and family), another important step is removing your private information from the internet. People are often amazed when they realize that their social media posts have resulted in scammers gaining personal details about them.
Social Catfish does the hard work for you, through our proprietary algorithm. You can search your name, email, username, phone, or image(s). When doing so, you will be provided with a list of matching details across the search engine giants.
Our site can also update whenever new search details are found! Look at what personal information is on the web today.