Last Updated 15 Apr 2020

Credit Card Hacking

Category Credit Card
Essay type Research
Words 456 (1 pages)
Views 228

Credit card also referred as plastic money. It is a card provides by bank to user in respect of his bank account or even with out bank account in that bank but against his income amount which he have through his job or business or even his cultivated land. There are two types of card, Credit card and debit card. Credit card is interest base and has certain amount of money which that particular bank pays against you and you will have to pay it back to the bank with interest.

Debit card is different from credit card, you can also use it for payments but this payment goes directly from your own account. The concept of cards are basically introduced the idea of CASH WITHOUT MONEY, just for safe your cash from lost and theft. Cash is secure by credit card, but is your card secure?? .In the world of crime, a new crime has taken birth and it is Credit Card hacking. What you know about credit card hacking? It is simply awesome or a night mare but it can happen.

Many people are unaware that when they give their credit card, it can be hacked. There are many ways by which the card can be hacked. Some are here for general purpose. The most common way of credit card’s hacking is quite easy and almost safe. When someone gives his card to any retailers for payment, the retailer copies the code and sells it to the hackers. The retailer copied the code of credit card and then with the help of MSR, transfers it to computer and makes a new but fake card.

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The credit card holder can’t imagine even what had happened with him. The other method of credit card’s “hacking” is “white card”. These white cards are easily available in many countries’ markets and samagals to Pakistan by many people. Unfortunately these cards cannot check in scan machines at Pakistani’s airports. (Quoted from Cyber crime wing FIA Pakistan). These white cards used for as ID cards in big companies as their workers showed it in their scanners and get in the company.

But hackers are doing misuse of these cards and they convert the hacked data into this white card’ chip and coated it into fake credit card. To avoid such crimes, the banks are going more conscious to save and secure their DATA that no hacker can reach to them. Now a day’s many banks are introducing Credit card’ insurance plan. It is quite safe and pinafore of card holders. The banks take extra charges for insurance but in the case of insurance, bank is liable to pay you your extra money which is not spend by you, either in case of theft or fraud.

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Credit Card Hacking. (2017, Apr 24). Retrieved from https://phdessay.com/credit-card-hacking/

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