PREVENT CREDIT CARD HACKING.
Friday morning I was
surprised to see a SMS.
It was about the credit card
transaction happened in the middle of the night.
My credit card was used to
transact at a US destination. Fortunately the transaction was declined due to
wrong entry of CVV !
Immediately I called the
customer care and blocked the card.
Then I was wondering how
this is possible?
Few days back, I had used my credit card to
pay for application fee of my daughter’s MS program. The payment goes through
as soon as the card number and CVV are typed; There was no OTP to authenticate!
This is very dangerous.
Anyone can get access to our credit card number as it is being used for many
online transactions and then someone can guess or even retrieve the CVV from
the database!
Hope RBI and credit card
issuers look into this issue and make it compulsory to have an OTP based
authentication for every transaction.
Tip: we can minimise the
losses in the eventuality of hacking by choosing the limit of transaction
amount fixed at a low value. It can be enhanced only when it is required.
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