{"id":27640,"date":"2023-03-15T04:15:00","date_gmt":"2023-03-15T11:15:00","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=27640"},"modified":"2023-02-14T16:24:52","modified_gmt":"2023-02-15T00:24:52","slug":"3-big-reasons-why-your-credit-cards-may-be-at-risk-2","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id27640-3-big-reasons-why-your-credit-cards-may-be-at-risk-2.html","title":{"rendered":"3 Ways That Make Credit Cards Vulnerable to Fraud"},"content":{"rendered":"<p><a href=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2014\/11\/credit-cards.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-27641\" src=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2014\/11\/credit-cards.png\" alt=\"how credit cards are vulnerable to fraud\" width=\"373\" height=\"280\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2014\/11\/credit-cards.png 509w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2014\/11\/credit-cards-300x225.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2014\/11\/credit-cards-50x37.png 50w\" sizes=\"auto, (max-width: 373px) 100vw, 373px\" \/><\/a>Grocery store purchases might not raise the hair on the back of your neck, but seemingly-endless stories about retail hacking might. The two are more connected than you might imagine, and the binding factor is the credit card in your wallet. In fact, there are several ways that make credit cards vulnerable to fraud.<\/p>\n<p>For example, some credit cards still rely on a magnetized strip to store user information. Unfortunately, it&#8217;s also a security flaw. This is because hackers have numerous ways to access the data stored on that little strip.<\/p>\n<p>New security upgrades are always in work by payment companies and retailers alike, but your card may still be at risk. There are many reasons why <a href=\"https:\/\/lenpenzo.com\/blog\/id3765-18-amazing-facts-you-didnt-know-about-your-credit-card-2.html\" target=\"_blank\" rel=\"noopener\">your credit card<\/a> may not be as secure as you imagine. Here are three of the biggest risks, and some ways to help you circumvent them:<\/p>\n<p><strong>Outdated Systems<\/strong><\/p>\n<p>The current credit card model has come under fire in recent years. A magnetic strip has been part of US credit cards for many years. However, malicious programs can store and access the credit data and critical info on that strip at a later time. As a result, the credit card industry is putting your data at risk.<\/p>\n<p>Business Week notes that large <a href=\"http:\/\/www.businessweek.com\/articles\/2014-09-11\/home-depot-hack-malware-points-to-different-hackers-than-targets\" target=\"_blank\" rel=\"noopener\">retailers such as Home Depot<\/a> have had their computers hacked and infected with malicious files used to trap customer credit info. These security breaches have led to improved credit card models. For example, Europe&#8217;s chip-and-PIN system relies on an individualized number and a microchip to authorize all transactions. Other retailers and hardware developers have created better point-of-sale (POS) technology. Innovative end-to-end credit card readers for the iPad are just one example.<\/p>\n<p><strong>Checkout Woes<\/strong><\/p>\n<p>Although outdated credit card technologies increase security risks, a bigger concern lies in the simplicity of a retailer machines. Because payment companies have no direct jurisdiction over a retailer&#8217;s transaction processing methods, it&#8217;s possible for hackers to use that credit data elsewhere. <a href=\"http:\/\/www.ibtimes.com\/amid-security-breaches-attention-turns-chip-pin-cards-us-1684680\" target=\"_blank\" rel=\"noopener\">IB Times reports that<\/a> nearly 5000 suspects have been arrested in massive credit card information-theft rings. This suggests that your personal data may be passed around in vast underground circles before they&#8217;re eventually used to make fraudulent purchases. Without a PIN or the microchip, your card &#8212; and the company that issues it &#8212; are nearly powerless to stop data theft. Even worse, it&#8217;s very difficult to verify whether you truly bought something, or an actual fraud victim.<\/p>\n<p><strong>RFID Scanning<\/strong><\/p>\n<p>Perhaps the most frightening credit card risk today is radio frequency identification (RFID) scanning. This technology uses credit card smart chip electronic signatures to collect and store information. RFID scanning relies on indirect and long-range attacks to steal your card&#8217;s information. However, major credit card companies support their current RFID protection model and insist that it&#8217;s bulletproof. But if that&#8217;s true, they need to explain how data thieves are stealing smart chip information. And while many companies have put countermeasures in place, hackers are constantly working on increasingly-intelligent ways to steal your credit card information, without ever touching it.<\/p>\n<p>The modern credit card is one of the most convenient and portable ways to pay for goods and services. But it can also be the most vulnerable. With that in mind, always be sure to treat your card with <a href=\"https:\/\/lenpenzo.com\/blog\/id7260-how-to-pay-off-credit-card-debt-quickly-2.html\" target=\"_blank\" rel=\"noopener\">the same respect as cash<\/a> because the chances of losing your funds aren&#8217;t very different between the two systems. Although major retail and payment processing companies are constantly working to improve credit card security, your best defense remains personal awareness. You, the consumer, should always be the first line of defense.<\/p>\n<p style=\"text-align: right;\"><span style=\"font-size: smaller;\">Photo Credit: stock photo<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grocery store purchases might not raise the hair on the back of your neck, but seemingly-endless stories about retail hacking might. The two are more connected than you might imagine, and the binding factor is the credit card in your wallet. In fact, there are several ways that make credit cards vulnerable to fraud. For [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":27641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[458],"tags":[14997,14995,14996],"class_list":{"0":"post-27640","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-credit-debt","8":"tag-credit-card-fraud","9":"tag-credit-card-risks","10":"tag-credit-card-vulnerabilities","11":"pmpro-has-access","12":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 Ways That Make Credit Cards Vulnerable to Fraud<\/title>\n<meta name=\"description\" content=\"Security upgrades continue to be implemented by credit card companies, but yours may still be at risk. Here are three wats :\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lenpenzo.com\/blog\/id27640-3-big-reasons-why-your-credit-cards-may-be-at-risk-2.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Ways That Make Credit Cards Vulnerable to Fraud\" \/>\n<meta property=\"og:description\" content=\"Security upgrades continue to be implemented by credit card companies, but yours may still be at risk. 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