What is Credit Card Abuse

Credit card abuse is a serious issue and hopefully you never fall victim to it.

What is Credit Card Abuse
In a nutshell, Credit/Debit Card abuse is the unauthorized use of your credit card or debit card by another. Credit Card abuse is is the most common type of identity theft and can occur whether or not the person physically has your actual card.

Traditionally credit card fraud was limited to the use of stolen or lost cards to make unauthorized transactions, but due to advances in technology, there are now many other ways for thieves to obtain your credit card/debit card information.

Different methods of credit card abuse

Skimming occurs via the use of a small electronic device to obtain the electronic data from the credit card via the magnetic strip on the back of the card.  The thief takes that data and transfers it onto another card and then can use it to make purchases.  Common skimming locations include gas stations, restaurants and ATM machines.  However, advances in technology have seen skimming occur through wallets as people walk down the street.

As of late, hacking is the primary way thiefs are obtaining credit card numbers.  The Target Data Breach along with Jimmy Johns saw hackers gain access to large, enterprise POS system that store credit card data.  The hackers obtain the data and then use the card data to make purchases.

Phishing occurs when the end-user (you) unknowingly give your credit card data to an attacker.  This may be via a scam over the phone, or an electronic website made to look like a site you trust.

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