Card Security Rules

How to avoid credit card fraud? Terabank shares some tips regarding card security:

  • Do not leave your card in a place where another person can access it.
  • Do not write the PIN code on the card and do not keep the PIN code written on a piece of paper with the card.
  • Do not send complete card data: 16-digit number, expiration date, security (CVC/CVV) code by phone or e-mail and do not share this data with another person.
  • Do not share the 3D security code that you receive by SMS during the payment process to confirm the operation.
  • In the case of loss or theft of the payment card, immediately block the card through the Internet Bank or contact Terabank with a request to block the card.
  • When using an ATM, be careful to watch the distance between you and any other persons so that they cannot see the PIN code you enter. Once the process is complete, take the money and the card and make sure you are logged out of your account.
  • Be careful when using the post terminal - never show the card to the service staff and ask them to present the post terminal to you. This will reduce the risk of card data theft.
  • Avoid automatically remembering card data on a website when paying online.

How to Pay by Card for Online Purchases:

  • Search for information about the store's reputation in advance and read customer reviews carefully. When using a mobile application, make sure that the application is owned by the store or service provider.

  • Look at the website address field. Make sure that the site address does not start with http//, but with https// where the s indicates transaction security. Additionally, the green padlock symbol must appear in the address field.

Types of Financial Fraud:

  • Cyber-attack - an act that uses an electronic device and/or a connected network or system to illegally obtain property or information.
  • Phishing - entering card data on a fake copy of the website of a real organization created by a fraudster.
  • Smishing - the same as SMS phishing. One type of phishing which is carried out by sending a short text message.
  • Vishing - a type of telephone fraud when the fraudster tries to obtain card details through telephone communication.
  • Skimming - stealing card data by installing a special device, a skimmer, on an ATM or post terminal.
  • Spamming - sending e-mails of an advertising nature by a certain company or person without the permission and desire of the recipient.
  • Malicious programs - the same as spyware programs that can steal personal data recorded on your computer.

Remember that by sending your card details openly, you are giving strangers access to your money.
Source: FINEDU


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