The more the industry of online business grows, the more space is there for different kinds of cyber frauds. One of the main frauds of the type is called carding and involves gaining access to another person’s credit card.
The industry of carding is constantly growing, as more and more people obtain credit cards and start using them online. Carding usually has several main stages:
• Gaining access to the credit card information
• Testing the cards
• Making clean profit of them
The first stage usually involves using different hacking methods, such as phishing, key logging or malware deployment, which are typical for all kinds of hackers. The one industry specific method of obtaining card data is skimming, which is using small terminals to scan the physical credit cards and obtain access to them.
The second stage is testing the actuality of the data obtained. The most dangerous scammers usually receive the databases of hundreds or thousands credit cards. They use bots in order to check, whether it is possible to make a transaction using the information gained.
The third stage is the most interesting, as making clean profit requires much effort for carders. They might always sell the obtained data on forums in the dark web, which is safer but less profitable than stealing cash from the cards obtained.
The most popular way of stealing money from credit cards is to purchase something on the money of cardholder. This may sound simple, but it also involves much effort from the carders, as they have to maintain absolute secrecy around themselves, which makes the simple process of purchasing something online a very complicated procedure.
Firstly, the carders purchase prepaid cards of online shops on behalf of the cardholder they are robbing. These prepaid or gift cards are resold or used to purchase goods. Carders hire special people to make the purchase using the pre-paid card and other people to get the parcel, as the carder intends to keep his identity in secret. The goods obtained this way are resold and the clean profit is gained by the carder.
It is essential to be aware of such fraud, in order to take preventive measures. Of course, there is no option to become absolutely safe from criminals, as they might do whatever they want without the awareness of the user. However, using the credit card only on trusted resources might significantly reduce one’s risk of being robbed.