Free Prepaid Cards

What prepaid credit cards offer no application fee

Pay As You Go Cards

Pay as you go credit cards. Just pay as you use.

Monthly Fee Prepaid Card

Top 10 PrePaid MasterCard with Monthly Fees

Travel Money Cards

Comparison Travel Money Cards preload with currency.

Acquiring Visa Card Details Frighteningly Easy

Published on 31 January 2017 in Multi - News by Raffick Marday

Acquiring Visa Card Details Frighteningly Easy

On a scale of one to ten, what safety level would you attach your credit card? Without a second thought, most people with little knowledge of online credit card hacks would rate these cards at ten. But a new study by experts from the Newcastle University reveals otherwise. The research, primarily concentrating on Visa cards concludes that they are frighteningly easy’ to hack and clone. But while this study was exclusive to Visa cards, it is estimated that this weakness extends to numerous other card brands available globally.

What makes the hack easy acquiring Visa Card Details?

A regular online shopper can confidently testify that the type of card information required by different online stores to validate purchases varies from one institution to the other. This means that piecing together several card requirements from various online retailers, gives the hacker full card detail requirements of the visa card. According to the researchers, this forms visa cards central point of failure.

But it takes a series of other equally negligible weaknesses to obtain card details for a clone. Most importantly, the attackers use the distributed guessing attack (DGA) method to get the card details. In this regard, the hacker makes unlimited guesses on each of the card fields, typically ranging from 10 to 20 on the different websites till they arrive at the correct card detail before collaborating them all to clone the card.

The fact that the card has no limited number of errors one can make when authorizing purchase makes it possible to acquire Visa card details through unlimited guesses. This problem isn’t exclusive to Visa cards as numerous other credit, debit, and travel card brands suffer similar weakness. The report also noted that though the process is a culmination of individually simple card activities, they are quite disastrous when brought together. It also pointed that with the right tools; laptop, the internet, and DGA knowledge it can be executed speedily.

Evidenced in Tesco Bank acquiring Visa Card Details

Though investigations are still inconclusive, the Newcastle University researchers have reason to believe this type of fraud was used to defraud the UK Tesco Bank. In the late November 2016 weekend fraud swap, hackers were able to access over 40,000 of the banks seven million customer accounts, and by the time the bank regained control of their systems, they had withdrawn funds from than 20,000 accounts. The fact this was an online scam only affecting current accounts makes the researchers tie the visa faults with the bank fraud.

How does this affect visa debit and credit card holders?

According to Visa management, it takes more than the card details to gain access to the user's accounts in real life. Visa management noted that the research didn’t consider the effectiveness of the chip and pin security features as well as the anti-theft SSL technology that their cards employ.

Additionally, just as Tesco reimbursed all the affected customer accounts, you aren’t liable for card transactions used by an unauthorized third party that gains access to your card. Visa card users, therefore, don’t need to worry about losing savings from online card hacks and online hacks as they are adequately insured.

Bottom line acquiring Visa Card Details

Should this stop you from engaging in online transactions or discontinue your card use? No. Threats to any technological advancement will always be there. In such a case, the best you can do is verify the authenticity of the online retail websites before keying in your card details.

Recent Posts

» «

RBS Bank Account

RBS Bank Account

Tuxedo Card

Tuxedo Card

Weswap Card

Weswap Card