Don’t Buy Cloned Cards

If you use a credit card, it is a good idea to be vigilant about fraud. While this crime is still prevalent, it is becoming less common. Among the best ways to protect yourself is to not share your PIN number with anyone. Frequently changing your PIN number is a good idea as well.

If you have an older credit card with a magnetic stripe, you should be especially cautious. This type of fraud requires little cooperation from store employees and can be conducted without your knowledge. Once your card is cloned, the thief can sell it on the black market or download the data to another card.

Cloned cards are a great way to get your personal information without having to steal the card physically. Fraudsters use fake keypads at ATMs and POS terminals to copy the card number. Once they have this information, they make a duplicate card. In some cases, the thief will even put their own name on the card to make it look like they have a real card.

Cloned cards are generally cheaper and are produced using hand-encoding machines. They also feature higher digital bit variance. Retailers are also concerned about the possibility of fraudulent gift card purchases. While gift cards are very popular and profitable, fraud is still an issue and creates a bad shopping experience for consumers. The FBI estimates that only a small percentage of these cards are actually faked.

The first step you should take in preventing credit card fraud is contacting your bank and credit card company. By doing so, you will cut off the time that thieves have to rack up charges. It is also important to remember that you are not typically responsible for the amounts stolen through credit card fraud. If you report the theft, your liability is limited to $50.

Cloned cards can also Buy Cloned Cards be used for fraudulent online purchases. They are used to purchase merchandise from a retail store and then sell them online or on the street. The victim can then find that their funds have been drained from their credit cards when they use them in the retail store. However, if you are suspicious, you should not use a cloned card at an ATM because it could be counterfeit.

While card cloning is illegal in many countries, it is still a growing threat. Recently, in India, 500 debit card numbers were stolen by using cloned cards. This crime led to the arrest of four men and the recovery of three credit card skimmers. This practice should remain a concern for both organizations and consumers.

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