It is not big news that credit card generator sometimes can lead to many forms of fraud. And you can be the next victim. How to prevent it? Let’s find out!
Internet and credit card
It has been a long year that you can find a lot of types of fraud activities on the internet. The better the internet security protect users’ data to avoid them in a fraud activity, the smarter criminals find the loopholes to find their new “victim”.
Corruption risks and fraud can still be found everywhere especially online even the implementation of a technology of EMV microchip has been increasing. Nowadays, we cannot even count how much the collateral damage that becomes the victims of various online frauds. The collateral damage is including the consumers or customers, small business and even the economy of a big company.
It is also an unfortunate event that consumers from the political world, economy, and society in a big scale take an advantage of credit card usage because of the expansion of the internet. A fraud of credit card on the internet can lead people to a false transcontinental transfer. And it is not a secret anymore that credit card generators are one of the famously used platforms to conduct and try credit card fraud.
Credit card generator
Many people are still unfamiliar about what actually a credit card generator is. Before you find out how it works, let’s learn about the nitty gritty of a credit card generator.
Credit card generators actually are not the real machines. The fact is that they are only computer software programs that are designed simply. They are used by companies of a credit card to generate a valid numbers combination numerically that is assigned or issued to every user that is same as the number of their credit card.
After that, the numbers combination will be generated by the computer in specified and certain lengths with several rules that will be applied to it. It is true that these credit card generators are mainly used by the credit card companies for legal aims. But on the other hand, some of the minority companies used them for collecting users’ data or testing websites of e-commerce. And that leads to many types of internet fraud.
When you as a customer are assigned a number or your credit card number to be identified, there will be three steps to do it. Those steps are including:
- The first step: the first numbers are the identification number from the bank. It usually consists of 6 digits. The first part is identifying the location where the card is mostly used. This process will decide which institution issued the credit card to the user.
- The second step: the second section of the credit card numbers can consist of 7 to 12 digits. Those digits are the actual identifier of the individual account or real account number.
- The last step: the last digit found in your credit card is the ‘checksum’ number. It is a figure which can validate whether the number is legitimate or not. It will use an algorithm called the Luhn which is an error formula detector.
That was the basic story of what a credit card generator actually is. There are also rules applied by a lot of credit card companies to generate thousands of numbers of a credit card. It will be another and different story if the credit card is activated.
Fake credit card generator websites
Now, you need to be careful since there are fake credit card generators number on a Google search. You can find almost in any networks of criminal about credit card generator. It will make the criminals’ job easier to do online fraud and steal a credit card.
How credit card generator fraud happens
This is how criminals take advantages of credit card generators to do fraud. First, they will create fake cards using a credit card generator by using the numbers. Second, they will find a location which the cards issues. But in this step, the cards cannot be validated immediately.
The cards are only used to buy or trade show. Most of the time, the criminals use them to do online shopping by submitting number by number until one of them is successful. They also test whether the numbers from the credit card generator work by purchasing a very cheap thing including a few cents. Last but not least, they usually write a fake address to deliver the goods they just bought. When the criminals find the credit card number that is successfully used, they will use it again and again until the owner finds out.
Consumer fraud protection
If you are a consumer, it is important to check the state of your credit card as the main way to protect yourself in order to be a victim of a fraud. You will find out fast of any transaction made with your card. You will know the transaction you may forget or odd transaction that you actually never done it. You also should check suspicious activity at least once a quarter by checking the report of your credit card.
Merchant fraud protection
If you are a merchant, you should use additional information to verify any of your transaction. It is the best way to protect yourself from credit card fraud. Credit card generator works like a lottery. The chance to find out the successful credit card number will go down significantly every time the criminal inserted the different number. You should ask the system to request these following statements whether you do an online shopping or have a personal transaction. Those statements are including:
- The security code of the credit card
- The expiration date of the credit card
- The shipping and billing address
You can also report any suspicious activity or unsuccessful trying of the small transaction in order to fight the credit card generator fraud. If you feel that someone uses your credit card to commit fraud, you can contact the Federal Trade Commission to report that behavior. You have no idea how many people or how much money you can save by reporting it.