credit card – PSafe Blog

Coachella’s Site Was Hacked: Is Your Credit Card Info Safe?

PSafe Newsroom — Sat, 22 Apr 2017 20:00:06 +0000

In early March, several thousand Coachella.com accounts were compromised. This has left thousands of people in a panic over whether their bank accounts, payment information, and personal information are safe or not. This data breach leaked names, birthdays, phone numbers, and email addresses. So, to answer the question: your credit card information is likely fine. Lucky enough for the concertgoers, the ticket purchases are a separate entity from Coachella.com. This is a big reason why credit cards were not directly compromised from this hack.

Coachella Account Information for Sale

California State University (at San Bernardino) Professor, Tony Coulson, is a cyber-expert who was interviewed by a local CBS station in Los Angeles. He noted that the users’ information is currently for sale on the dark web for just a few hundred dollars. Hackers can purchase this information and subsequently enter your username into an algorithm that will help crack your bank password by continually guessing it on the website until they get a hit. As a result, it is urgent that you change your bank account information if it mirrors the information you used in your Coachella account.

Additionally, hackers have begun sending out malicious emails, masquerading themselves as Coachella staff. These emails will likely and ironically ask you to change your password to avoid hacking. The hacker will ask for your old account name, old password, and new password. Please be cognizant of the fact that Coachella will never ask for any personal information via email to avoid phishing scandals.

The Issue of Passwords

If you are one of those people who uses the same username and password for everything, from your bank account to your AOL or Gmail account, then you should seriously consider changing your password for everything. If a hacker has access to your username, for example, this can be an easy first step that allows the hacker to compromise your other accounts, including your bank account.

Passwords are not an area you should be slacking in: you should use strong, unique passwords for each account that you have online. If you have trouble remembering all of your various passwords and need some help, consider using a password manager to help secure your accounts.

While you may be safe from the direct hacking of the Coachella website, that does not mean that you are completely exonerated from malicious activity. Be sure to keep a different username and password for each website that you use.

New Credit Card Skimmers Harder to Detect Than Ever

PSafe Newsroom — Tue, 11 Apr 2017 14:00:02 +0000

Devices that read ATM data aren’t a new development, but they used to be bulkier and easier to find. Now, however, the new credit card skimmers are harder to detect and adept at swiping information. If you prefer to use Android Pay instead of swiping a credit card, though, you should make sure that your device remains secure. Use the Full Virus Scan to check your phone and SD card for any information-stealing malware or havoc-causing viruses. If it finds anything amiss, it will take care of it for you. Click here to scan your device for malware now:

New Credit Card Skimmer Theft

The European ATM Security Team has warned about new credit card skimmers that are almost impossible to be detected by just looking at them, says Krebs on Security. The new devices are small, slim, and fit right inside the cavity of the credit card slot. When a user swipes his or her card, the data is taken. If you think that entering your pin number keeps you safe from this theft, think again. A spy camera will then capture you typing in your PIN number. The thieves now have everything they need to begin using your money anywhere, any way they want.

The new chip bank cards are one way to help thwart thieves, but the problem has now moved to the U.S., as American banking institutions were slow to respond with chip cards to block this type of theft.

Keep Your Personal Info Protected

How can you protect yourself from this sneakier thievery? You can start by using your other hand to cover your pin as you enter it in. It’s a simple step that most people skip. Anyone watching, whether in-person or through a spy camera, won’t be able to take your data with an obstructed view. If you’ve received a chip card, get it activated and use it.

You can also take advantage of DFNDR’s various Anti-Theft features. If you lose your phone, the last thing you want is for it to fall into the wrong hands — especially if you pay for goods with Android Pay. With all that personal data and financial information on your phone, thieves would have a field day. Click above to protect your phone in case of loss or theft:

With Anti-Theft you can lock down your phone’s data, see your phone’s location, and sound an alarm to find it. You can remotely access these functions, and more, even when the phone isn’t on. When it is powered up and active, your responses will push through and help prevent any data loss.

What is the Future of Credit Card Security?

PSafe Newsroom — Tue, 17 Jan 2017 17:00:20 +0000

With continuously evolving technology, and a never-ending supply of ideas and innovation from tech companies around the globe, it’s not surprising that there are frequent updates to one piece of tech almost everyone has: a credit card. With fraudulent activity and theft as a constant worry, many people are concerned with making their credit cards safer than ever. Considering recent large-scale hacks at many retailers — most notably Target — consumers are worried that their information is at risk.

Although there are many potential solutions out there, a few companies have come up with some revolutionary ideas that would keep your information safe. These solutions will help to protect you against the credit card fraud and Internet identity theft that so many people have already experienced.

New Credit Card Technology

French company Oberthur has released a new credit card model that, if approved by major banking chains, could be in consumers’ pockets as soon as this year. This new card, which features a mini screen on the back of the card, would update the CVV — or credit verification value — number once per hour. The screen, which is powered by a battery similar to those in cell phones, would last about three years.

Because of the changing code, the card would not work for anyone except the owner. Once the number changes, it renders the rest of the card’s information useless. This would eliminate theft that comes from someone writing down or scanning credit card information.

Aside from easier theft prevention, an advantage for retailers is that this new credit card would use the hardware already in place in stores. They wouldn’t need to replace everything, as they had to do for the new chip cards. Stores could use their usual scanners that function with a traditional credit card or contact pay systems, like Android Pay.

Although the US is currently in the process of a widespread adoption of the credit card chip system used throughout Europe, this digitally updated card would prevent theft at an even higher level. While the new chip system helps to prevent in-person theft, people are still equally at risk when shopping online or being targeted by computer hackers.

A Higher Price Tag

One barrier for widespread adoption of this new high tech credit card, however, is its higher cost (in comparison to regular cards). The estimated price currently falls between $10 and $20 each. Even though this technology would improve safety for customers worldwide, the cost of the technology might lead US banks to delay in acquiring and distributing this technology. It remains to be seen if the US will adopt this new technology, despite the higher cost.

Why Are Credit Card Chips Safer Than Swiping?

PSafe Newsroom — Thu, 10 Nov 2016 19:15:40 +0000

Swiping your credit card is an extremely reinforcing feeling. There’s something addictive about splurging and siphoning your bank account. Unfortunately, most credit card companies have parted ways with the swiping method. While a lot of places still accept swipes, the primary payment method has been switched to the computer chip emblazoned on the front of your card.

The transition process has been all but smooth. Anyone who has ever shopped with a credit card in the past year knows the struggle of juggling between swiping your card and inserting your chip. Considering how long it takes for the chip reader to recognize your card, many people are frustrated with this new technology.

However, this metallic chip was added as a safety precaution. It adds a new security measure that scrambles the transaction information. To elaborate, when you swipe your credit card the standard way, it records information that is unchanged. If this information were to be obtained by a hacker, they would have access to your sensitive information and could steal some of your funds.

With the new chip technology, this information gets scrambled, and each transaction code is unique. If a hacker were to achieve this information, it would be of no value due to the altering of the transaction log.

MasterCard and Visa have reported that fraud rates have decreased since these chips were released. In May 2016, Visa reported that merchants equipped with the chip reading technology reported an overall 47% drop in fraud throughout the past year. Mastercard reported an astonishing 54% decrease in fraudulent activity from April 2015 to April 2016. Mastercard also stated that merchants who aren’t equipped with chip readers have had a 77% increase in fraud.

While this new security feature isn’t the silver bullet to end fraud, it is certainly a bonus that will make a hacker’s job much more difficult.

PSafe Total

While the chip readers will give hackers a harder job, PSafe Total will ruin their day. PSafe Total is an app that helps provide maximum security and optimal performance to your device. The Anti-Theft feature, for instance, can track, block, locate and even erase all of your data remotely in the case of loss or theft.

Which Type of Card is Safest to Use When Shopping Online?

PSafe Newsroom — Fri, 30 Sep 2016 22:33:15 +0000

If online shopping is your “thing,” you may be wondering if you should be paying with your credit card or your debit card. Is one option safer for online shopping than the other? The short answer is: yes.

Credit Card Vs. Debit Card
If you normally use a debit card for your online shopping sprees, you may want to rethink that decision. If your card info is stolen, and somebody makes purchases, the credit card holder often has less liability than the debit card holder.

There are laws in place to protect credit and debit card users, but they both differ a bit in how they handle stolen information or fraudulent activity. Credit cards have the Fair Credit Billing Act, or FCBA, that puts the card holder at a maximum liability for fraudulent card use of $50. If your card is reported stolen (or lost) before these fraudulent shopping sprees occur, then your liability becomes zero.

There are many credit cards that offer this protection, but it is important to read the fine print before you commit to one company over another.

The Electronic Funds Transfer Act, or EFTA, is similar to the credit card laws. It also protects the original cardholder, yet with a significant difference. For debit cards, there is no maximum liability.

You have sixty days to report your lost or stolen card under EFTA laws. After that point, any money taken from your account is lost. That’s not the best of news for frequent online shoppers.

What You Can Do
If you must use a debit card for online purchases, make sure that it is a card without a large balance. If someone accesses your account, they won’t be able to run off with everything.

For better security, look into your overdraft protection. Overdraft protection is frequently used with a checking account, and, in case of a lack of funding in the checking account, it uses funding from the savings account to cover the remainder of the balance.

If a thief is using your card, they have access to both of your accounts–and can wipe out your checking and savings accounts in one blow. Contact your bank to see how your checking account is protected.

Of course, you can always use a prepaid debit card. This option offers more control. If you lose access to the account, you won’t be turning over your checking and savings account funds, but will only lose whatever you had put on the card.

Bottom Line
Consult with your bank to see your best options. Then, help keep your web browsing safe from malware and virus threats with PSafe TOTAL. It offers advanced protection to keep your web surfing secure.