Join the Community

22,799
Expert opinions
43,907
Total members
398
New members (last 30 days)
193
New opinions (last 30 days)
28,944
Total comments

Irish cards blocked after data theft

Well, the intention is good but these card numbers need not necessarily have to be stolen to be used.

The luhn-digit algorithm check is easy enough to use to be able to come up with valid card numbers. Most carders actually have a list of at least the first 4 digits of each Issuing Bank. Most times, they even have the range of card numbers of high-end accounts (platinum, gold, etc.).

I can very well see a ton of cards getting reissued each time carders generate these numbers and validate them in the net and detection systems such as what was used detect the suspicious transactions.

Were they blocked fast enough that these carders/skimmers weren't able to use the clones or validated card numbers? Perfect solution is to allow cardholders to block/unblock their own cards. Unblock them prior to an internet transaction,  atm transaction, foreign-use and block them after. This solution will retire carders and skimmers and it will also save money in reissuing cards.

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

22,799
Expert opinions
43,907
Total members
398
New members (last 30 days)
193
New opinions (last 30 days)
28,944
Total comments

Now Hiring