Credit and debit card fraud is becoming more common than ever. At VyStar, we use many different methods of detecting and preventing fraud — including Electronic Security Protection (ESP), Visa® Transaction Alerts, EMV chip card technology, Visa’s Zero Liability Policy and secure online account access. But as cybercriminals become more sophisticated, it’s a good idea to understand how the most common credit and debit card scams work so you can protect yourself against them.
Skimming Devices
These small data-transmitting devices are used by fraudsters to illegally collect data from the magnetic stripe on credit or debit cards. Skimming devices have been found at gas station pumps, ATMs, retail stores and even on handheld card readers. These devices look almost identical to the actual card scanner where they’re installed, and criminals place them when no one is around or when employees are distracted.
The skimmer then collects card information from unsuspecting patrons as they use their cards. The criminals later retrieve the skimmer and use the information they collected to create counterfeit cards or sell the card information to other criminals on the black market.
The next time you find yourself at a gas pump or any other freestanding card reader, inspect the card-reading device before you swipe your card. A gentle tug on the card slot should help reveal if it is authentic or not. You can also set up VyStar mobile banking alerts and Visa Transaction Alerts so that you are notified whenever a suspicious purchase is made on your account.
To sign up for Visa Transaction Alerts for your VyStar card, follow these steps:
Log in to Online Banking.
Click your credit card.
Hover over the Communications menu and click Visa Transaction Alerts.
Read the disclosure popup and click Submit.
Follow the on-screen instructions to set up Visa Transaction Alerts.
Phishing
Phishing is a type of scam where fraudsters manipulate victims into providing sensitive information, usually by phone or email. They do this by falsely claiming to be from a legitimate business where the victim is a customer. These emails direct victims to websites that retain any information typed in by the victim or download harmful software onto the victim’s computer.
For example, a fraudster sends you an email that looks like it came from a well-known business, along with a link to a fictitious website that appears to be the business’ website. When you click on the link, you are routed to the fictitious website, where the site installs malware on your computer that captures your keystrokes. The malware is installed without your knowledge, so you never realize that you are being watched every time you type your username, password or other important information.
Always be wary of any email or text message that asks you to provide personal information by replying to a message or clicking a link. Phishing emails often include spelling and grammar mistakes, and the sender address may also look fishy. Do not click on any links or images from unknown senders. Instead, hover over them with your mouse (without clicking on them) to confirm that they are routing you to the company’s official site.
If you are ever in doubt, play it safe and go directly to the business’ website yourself by typing the URL into your Web browser, or call the company directly to confirm that they are actually requesting the information. Finally, only enter your credit or debit card information on secure websites that have “https” or a lock symbol that appears in the site address.
Merchant Compromises
During a merchant compromise, fraudsters hack into a merchant’s or card processor’s computer network and steal customer credit or debit card data. Unfortunately, there is nothing you can personally do to protect a merchant from getting hacked or prevent your card number from landing in the hands of a criminal when a merchant is compromised. However, you can rest assured that VyStar will take every action necessary to protect you if your credit or debit card number is compromised.
When a breach like this occurs, the credit card company identifies the issue and sends a list of the compromised cards to financial institutions like VyStar. They inform us that the cards may have been compromised, and we immediately reissue new cards to the cardholders to protect their accounts.
One thing you can do to protect yourself is to regularly monitor your account statements and notify us whenever you spot something suspicious on your VyStar credit or debit card.