How Can Someone Use My Debit Card Without Having It? The Basics of Debit Card Fraud
Given the rising prevalence of payment card fraud, the Nilson Report predicts that resulting losses will exceed $397 billion over the next decade. This alarming trend is compounded by the continuous advancement of technology and new fraud types.
Today, criminals don’t need your physical card to get hold of your financial information. Their techniques and devices for stealing card data have become so subtle that victims typically remain unaware of the crime until they detect an unauthorized charge.
This article will focus on debit card fraud, answering commonly asked questions like:
- How can someone use my debit card without having it?
- What do I do if my debit card has been used fraudulently?
- How do I protect my debit card information?
How Can Someone Use My Debit Card Without Having It?
A form of fraud that doesn’t require the presence of a physical card is called card-not-present fraud (CNP). If you don’t have proper security measures in place and the criminal obtains your debit card information, they can use it for fraudulent online or over-the-phone transactions. These types of transactions don’t require a PIN or signature, making the criminal’s job easier.
How Can a Criminal Get Hold of My Debit Card Information?
Below, you can read about the most common methods fraudsters use to get hold of the victim’s debit card numbers.
Breaking Into Mailboxes
Sometimes, criminals steal bank statements and other documents from the mailbox and use the information to impersonate the victim. They may attempt to change the account data, such as the mailing address, or apply for new cards.
Skimming requires the presence of a plastic card, but only briefly. It occurs when criminals steal card information from unsuspecting victims using skimmers, small devices designed to capture a card’s magnetic stripe or chip data.
Familiarize yourself with common skimming methods: