Company
Date Published
Author
Courtney Rogin
Word count
1391
Language
English
Hacker News points
None

Summary

Credit card cracking is a rapidly growing type of e-commerce fraud, accounting for 16% of such incidents globally, whereby fraudsters exploit systems to test and validate stolen or incomplete credit card information. These fraudsters often acquire card details from the dark web or data leaks and utilize automated bots to expedite the process of brute-forcing remaining card details like CVV numbers or expiration dates. Motivated by the desire to make unauthorized purchases or resell verified card information, they frequently conduct small transactions to test the validity of the card details. To combat this, businesses are advised to implement protective measures such as AVS and CVV tracking, monitoring of small transactions from unlikely locations, creating blocklists to prevent repeated fraud attempts, and using fraud prevention tools like device identification and bot detection systems. The article emphasizes the importance for businesses to not only understand the mechanisms of card cracking but also actively implement these security strategies to safeguard against potential financial losses.