I will share a simple way in this post how you can protect your credit card CVV or the security code at the back of your credit cards.
According to several studies, our personal data is the new oil of the digital era. Basically, data has surpassed oil as the most valuable resource in the world. We disclose almost all of our personal information to several entities, like the tech giants, online shops, banks, government agencies, etc., hoping that they will keep our personal data safe. Unfortunately, hardly a week goes by that we do not hear news about a data breach or identity theft because cyber-criminals are becoming smarter, too.
My brother who lives in Canada visited us before the pandemic. I treated him to dinner one time, and he was gobsmacked when the waitress took my credit card and brought it somewhere far from our table to swipe it. Apparently, that is a big no-no in Canada. I received an earful from him and he reminded me to be always wary especially if it involves my personal and financial details.
Our credit card information is one of the most vulnerable assets we have. But, do not fret because there are several ways that you can do to ensure that you are fraud-proof, such as these safety measures. However, I know that there are instances when we really do not have a choice but to let a staff (of a restaurant or a gasoline station) bring our cards to their distant payment terminals. This where our details become at risk.
An online scammer was arrested recently and he divulged that some staff of restaurants or gasoline stations take photos of the customers’ cards and they sell these in the black market. All the more that we should be cautious.
We all know that our Card Verification Value (CVV) is very important because it is one of the anti-fraud security features that credit cards have. One thing that I really do not understand is why do banks expose it at the back of credit cards? Thus, here is a simple way to protect your credit card CVV:
1. Memorize your CVV because you will be needing it for your online transactions. Never divulge your CVV to anyone!
2. Using the correction fluid or tape, cover your CVV.
3. Let it dry.
4. Once it has dried, cover it with a stick-on. You can buy it from National Bookstore or from Lazada/ Shopee.
5. Affix your signature on the stick-on.
Every after a transaction, especially when a staff has to bring your credit card to their card readers, always check for any signs of tampering.
Stay safe and vigilant!