Is it safe to share credit card number and CVV?

Protect Your Plastic: The Perils of Sharing Your CVV

In the digital age, credit cards have become an indispensable part of our lives. However, with this convenience comes a heightened risk of fraud. One crucial piece of information that criminals crave is your CVV (Card Verification Value). This three or four-digit code, typically found on the back of your card, is designed to add an extra layer of security to online transactions.

However, sharing your CVV for in-person purchases is a grave mistake. This seemingly innocuous code, when combined with your credit card number, gives fraudsters the power to make unauthorized online purchases with ease.

How CVV Fraud Works

Fraudulent online transactions using a compromised CVVtypically involve the following steps:

1. Criminals obtain your credit card number from data breaches, skimming devices, or phishing scams.
2. They entice you into sharing your CVV by pretending to be customer service representatives, merchants, or even friends.
3. With your CVV in hand, they navigate to online retailers or marketplaces and make purchases without your knowledge or consent.

Protecting Your Financial Data

To safeguard your financial information, it is imperative to follow these best practices:

• Never share your CVV for physical transactions. This includes at gas stations, restaurants, and retail stores.
• Be wary of phishing emails and websites that request your CVV. Legitimate businesses will never ask for this information via email or text message.
• Keep your credit card secure. Store it in a safe location and report lost or stolen cards immediately.
• Monitor your credit card statements regularly. Report any unauthorized transactions promptly.

Remember, your CVV is like the key to your financial fortress. Guard it with diligence and never hand it over to anyone who doesn’t need it.

By adhering to these precautions, you can protect yourself from the costly consequences of CVV fraud. Secure your financial well-being and keep your credit card information safe from harm.