Your credit card is designed with a black strip that carries a lot of details about your credit card account. So now what is a credit card dumb?
Credit Card Dump
A credit card dump is a stolen electronic copy of the information about your credit card account that is stored on the black stripe of your card.
AdverseEffects Of Credit Card Dump
This information, when stolen by criminals can be used to create clones of your credit card which can be used to make unauthorized credit card transactions.
Also, copies of this information may be sold on the Internet to other criminals who seek to make fraudulent charges.
How Criminals Get Credit Card Dumps
These are the information contained in the magnetic stripe of your card.
- The first track holds the credit card number, the credit cardholders name, and the credit card’s expiration date.
- The second track holds the credit card number and the expiration date.
- The third track contains information about customer loyalty programs.
Criminals get credit card dumps via credit card skimmers. Skimming devices can be installed onto functional credit cards swipe machines, like those on ATMs or gas station pumps. As a customer swipes their credit card via the skimming device, the device captures details held on the credit card’s magnetic strips. Criminals can also obtain information by hacking a merchant’s credit card car machines or by installing spyware on their machines.
How Do You Know If Your InformationIs In A Credit Card Dump?
The sad news is, it’s impossible to know if your information has been compromised in a credit card dump unless it’s been used. This is because, these dumps are sold on the dark web, internet, and online forums usually through a wire transfer or even through cryptocurrency, which makes these payment methods hard for authorities to track.
How To Protect Yourself From Credit Card Dump | Credit Card Dumps Free 2019
Pay close attention to your credit card statements, and check your online account regularly to spot any unauthorized credit card charges.
You should opt for balance notification alerts if your card issuer offers one. This can alert you of any unauthorized use of your credit card. A text message, email or smartphone notification will be sent to you if your balance increases by a certain amount.
Once you spot a charge(s) you didn’t make, quickly contact your credit card issuer and have the charges investigated. Your card can be replaced by your issuer if it has been compromised in a card dump and you won’t get charged for unauthorized charges made using your credit card number as you are still in possession of your card.
You can also use EMV chip credit cards which encrypts your information as you use the chip and makes it less susceptible to hacking.
Be careful where you use your card. Ensure to check ATMs and skimming devices as these are commonly used before inserting your card.
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