You must beware! Your credit or debit card can be hacked in just 6 seconds. Here’s how you can protect yourself

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Over the past couple of years, with all of our business having to take place in the digital world due to the pandemic, the threat cyber crooks pose to our financial and social security has become even greater.

To further emphasize this, NordVPN recently published a study of 4 million payment cards from 140 countries and revealed that an average debit or credit card can be cracked in just six seconds.

He said the most common method of hacking into a payment card is brute force, which is incredibly fast and can be executed in seconds.

“The only way such a large number of payment cards could appear on the dark web is by brute force. This means that criminals are basically trying to guess the card number and CVV. The first 6-8 digits are the number card issuer ID. This leaves hackers with 7-9 digits to guess, as the 16th digit is a checksum and is only used to determine if any errors were made during entry. With a computer, an attack like this can only take six seconds,” says Marijus Briedis, CTO at NordVPN.

Given this, he said card users should review their monthly statements for suspicious activity and respond promptly to every security notification from your bank.

“Another recommendation is to have a separate bank account for different purposes and only keep small amounts of money in the one your payment cards are connected to. Some banks also offer temporary virtual cards that you can use if you don’t feel safe shopping online,” Briedis said.

The Reserve Bank of India (RBI) has also recently released a brochure on the common modus operandi used by fraudsters, as well as general precautions and digital hygiene measures to be taken by the public.

“As the speed and ease of financial transactions have improved, the number of reported frauds in retail financial transactions has also increased. Fraudsters have used innovative methods to swindle ordinary and gullible people out of their hard-earned money,” the RBI said.

Also, he warned people never to believe loan offers made by lonely people over phone/emails etc. and never to make payment against such offers or share credentials.

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