Bank card compromise

The term card compromise in simple terms

Компрометация означает, что конфиденциальная информация, которая должна быть доступна исключительно владельцу платежного средства, попала в доступ третьих лиц.

Information leaks often occur through the fault of the owner themselves — the payment instrument was left in a prominent place in the office or even handed over to a stranger for a one-time cash withdrawal or temporary use. Also, the card and information from it can be stolen, the plastic card can be stolen, or information can be skimmed from it using special devices.

In rare cases, information leaks can occur within the bank itself. Bank databases can be hacked, and unscrupulous employees may disclose private information without the client's knowledge. Regardless of the circumstances that led to the disclosure of secret information, it is important to play it safe and prevent the consequences of money being stolen from accounts.

How a compromise happens

A card can be compromised in several ways, and the owner may not even realize it. To prevent this, certain information should be kept secret:

• CVV2, CVC2, and CVP2 three-digit codes located on the back of the payment instrument;
•  PIN code — required to confirm transactions in stores, ATMs, and self-service terminals;
• login, password, and other authorization data;
• personal passport data;
• secret word specified at the bank when opening the account.

To transfer money to a card, its details (number) are sufficient. Other information must not be disclosed to third parties. It is worth remembering that malicious actors can be not only strangers, but also close acquaintances. 

Phishing internet resources

This data compromise method is considered modern. A phishing resource itself is a copy of a website that malicious actors entice users to visit by all possible means. Gullible people, as well as those with no experience using the internet, become victims of such scammers.

How it works:

1. Scammers create a website that, in its address, design, and operating principle, looks as much as possible like a resource belonging directly to a bank or popular online stores.
2. New customers are lured to the site. Users follow links and enter confidential information.
3. The information entered by the client is recorded, and a compromise occurs.

It is realistic to avoid such a problem. The bank customer themselves must understand that financial organizations and online stores never ask the user to enter full bank card details. Confidential data must categorically not be disclosed or used on any websites.

You should be vigilant on the internet. If you enter card details on any websites, pay attention to their URL. It should start with "https". This protocol type securely encrypts data transmitted by users. Also, a green padlock will appear before the address of a secure website — it confirms that all information is securely protected.

Be careful — invitations to phishing resources frequently arrive via email or simply pop up in the browser as windows. To keep your data secure, do not follow unknown links. 

Skimming and shimming devices

For decades, bank card hacking was a real virus for the banking system. Today, this happens significantly less often thanks to improved security levels. Special protective measures reduce the likelihood of third parties accessing accounts.

Skimming and shimming devices operated on the following principle:

1. The client inserted the card into the ATM, entered the PIN code, and performed the required transaction.
2. A special device installed by fraudsters read the information necessary to execute card transactions.
3. The owner completed the ATM transactions and retrieved their card.
4. The criminals transferred the data read from the card to another medium and withdrew money from someone else's account.

Today, banks can detect shimming and skimming devices. After using a card in such an ATM and entering the PIN code, the card itself is instantly blocked, and the client receives an SMS notification about card compromise. To resolve the issue with account access, simply contact the bank. A new card will be issued free of charge.

Obtaining data by phone

Fraudsters posing as credit organization employees may call a bank cardholder. During the conversation, they describe a complex situation with the bank account and ask to clarify certain details to verify identity. Anxious that the card might be blocked, trusting people give fraudsters all their information.

Data interception

Compromising data is becoming increasingly difficult; bank clients are aware of the most prevalent methods of stealing their data and remain vigilant. Fraudsters are developing new schemes and using other, more sophisticated technologies to obtain the information they need.

The essence of this information interception method is that the bank card owner simply goes online and performs some action online within an unsecured network. Thus, third parties gain access to all information and can compromise it remotely.

You can promptly realize that someone is performing actions with your card using SMS notifications or other bank transaction alerts. That is why bank employees insist that disabling such services is not recommended.

This method of card compromise is the most technically complex, which is why fraudsters use it extremely rarely. However, its danger should not be underestimated. If the card hack is successful, you should not count on a refund. Tracking down the fraudsters themselves will be practically impossible.

You can prevent the interception of card data using this method by not connecting to questionable Wi-Fi Sources. For any transactions related to money transfers, you should use trusted communication channels, such as a home network or mobile internet. 

Hacking websites and databases

Many online stores and marketplaces recommend that their clients link a bank card to their personal account for shopping convenience. Of course, this information is stored under reliable protection, but in some cases (for example, during a cyberattack) it may not be enough. Attacks on various online stores are carried out to obtain confidential data on client cards. As a result, hackers obtain a structured list of all clients and can use it for various schemes.

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How an owner can compromise their card

A compromise can happen due to the carelessness of the payment instrument holder. To prevent this, certain rules must be followed:

• do not carry a PIN code written on a piece of paper in your wallet — if the wallet is lost, the card will become accessible to fraudsters;
• do not enter your personal account password or PIN code on the ATM keypad in the presence of third parties;
• exercise caution when entering data on websites, especially CVV2, CVC2, and CVP2 codes — phishing websites often use fraudulent schemes, offering a large win or gift for entering such information;
• do not enter secret data via open Wi-Fi channels or using public computers in internet cafes;
• do not hand over the payment instrument for payments in establishments; the card must remain under the owner's control.

A card will be considered compromised if it is retained by the ATM or forgotten in it, even if retrieved by cash-in-transit personnel — its data will be exposed to third parties.  

How compromise incidents are detected by the bank

If data compromise is suspected, the bank immediately suspends the card's operation and stops the client from making transactions with it. The grounds for this may be as follows:

• using the payment instrument for unusual transactions or making large transfers;
• the card was inserted into a device where information copying took place — this is ascertained from other users' statements and information provided by law enforcement agencies;
• the payment instrument was used to pay for illegal purchases;
• withdrawing money at ATMs abroad while the cardholder is inside the country;
• information has been entered into a stolen database — this can happen without the owner's involvement.

What to do in case of a card compromise

If the bank suspects card compromise, the client will receive a message about its blocking. In this case, you will have to wait for the verification to complete, and if the data exposure is confirmed, card restoration will be impossible. The bank will offer to obtain a new card.

If cardholders suspect their card has been compromised, they should contact their credit institution by phone or via online banking and block the payment method. 

Who is responsible for data compromise

In most cases, the fault lies with the plastic cardholder. Regardless of how the information was disclosed to third parties, the client will be held responsible for the loss of funds. In this case, the affected holder can file a police report, and if the perpetrator is detained, the funds will be recovered through a court. If the information was disclosed through the fault of the bank or its employees, the bank will compensate the client for the damage.