Manchester, NH -- (SBWIRE) -- 08/09/2016 -- Credit cards are increasingly vulnerable nowadays, considering the techniques and devices used by fraudsters. While people know how thieves commit their crime, not many are aware what comes next after the credit card information is stolen.
Experts reveal what happens after credit card hacking. Crooks belong to a criminal network to reduce their risk of being caught.
Stolen credit cards are typically used to illegally buy things. However, when the stolen card numbers are used, thieves can be easily caught. This is why they joint rings, which are individuals who purchase and sell card numbers in online markets. This is otherwise known as carding forums and card malls.
The rings also have some people who specialize in creating fake cards, which are then used to make purchases.
In addition to belonging to a criminal network, thieves also create a workflow. Counterfeiters often use equipment that prints the cards. High-quality credit card numbers are often sold for higher prices since they do not look suspicious to financial institutions yet.
Once the personal information has already been stolen, criminals buy items such as smartphones and other products that have high resale value. The entire operation is usually run by bosses that get the most money to fund their employees and equipment.
Thieves also keep it low-profile. They know that fake cards contain a magnetic strip that carries the stolen number. These cards also contain a dummy number. The authorities and store cashiers often practice measures to catch thieves. Unfortunately, cops are typically unable to identify the bosses, and instead prosecute the criminals in the front line.
Credit card crimes can happen to anyone anytime. Today, there are card skimming devices that are inexpensive and can pretty much be used by anyone. These devices work by reading the credit card information of consumers.
Card skimming devices are usually installed in ATM machines. They are also cheap and can be purchased for about $50. Even employees at businesses can commit the crime by just taking a hold of credits cards for a while.
It is imperative that consumers are vigilant, especially when they are at public places. There are also products such as the set of RFID blocking sleeves that consumers can use to avoid being victimized by thieves.
The set of RFID blocking sleeves can be purchased at amazon.com. They work by blocking card skimming devices from reading and stealing credit card information. Many credit card owners find these sleeves helpful, especially when they are at public places such as airports and restaurants. (http://www.amazon.com/rfid-passport-sleeve-protector/dp/B0150T0AI2)
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SOURCE LINK: http://www.rd.com/culture/credit-card-hackers/
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