The invention of Advanced Technologies has helped us save a lot of time and energy. Specially digitalization of banking services like ATM’s and online banking activities help the customers in many ways. But online transactions not only offer a great advantage but also have a lot of disadvantages. One of the major disadvantages of online transaction is security issues. Many times, insecure online transactions may cause a great threat to your personal information. Online frauds are very common these days and one such major online fraud is carding.
Carders Forums: An insight
Carding is an online trafficking technique which uses the credit card details to collect the personal information of a person including bank account details. These information’s are further shared on illegal websites called carders forums . These carders forms are hidden behind the dark web and operate illegally. Carders forms are used to share stolen credit card details and also the techniques that can be used to steal credit card information. These credit card details can be further used to make online purchases or withdraw money from the account.
These carding forms are designed and maintained by some group of fraudsters who are experts in activities such as online trafficking. They operate illegally behind the dark web and post a great challenge to online security. These fraudsters illegally collect credit card or debit card information used to make online transactions and using them they also collect personal information of the user and other bank account details. Once they get access to account details or personal user ID and Password, these details will be further used to steal money in the bank accounts or the personal information will be sold to fraudsters or terrorists for huge sums of money. These carders use some phishing sites or large data breaches at specific retail stores to steal credit card or debit card information. Many times, proxy server usage may also cause a great threat to online security. Some malware introduced in the unauthorized links may help hackers to hack and gain access to personal accounts which will be misused further.
Once these fraudsters obtain your card details and other personal information that take over your bank account that is, they can use your active account without your knowledge. This is known as ‘Account Takeover’. This may cause you great financial loss. Sometimes your personal information can also be used to create fake accounts which will be used for illegal online activities. Many times, it has been proved that terrorists use these fake accounts for all their illegal activities.
So, for every person who chooses to do online transaction, it is very important to make sure that he is using genuine sites for all his transactions and no personal information is shared with unknown people. It is also important to secure all your personal information like account number, card number, pin number, User Identity, Password etc. Being cautious and taking safety measures while using online sites for money transactions can save you from losing your hard-earned money and misuse of your personal data.