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What are Credit Clone Cards?
A credit clone card is a fake credit or debit card that has been programmed with the stolen data from a legitimate card. Thieves use this card as if it were your own, racking up unauthorized charges that you are ultimately responsible for disputing.
How are Credit Card Details Stolen?
Several methods are used by acquire credit card information, including:
- Skimming: This involves attaching a small device, often a magnetic stripe reader, to legitimate card readers at ATMs, gas pumps, or point-of-sale (POS) terminals. When you swipe your card, the skimmer copies the information stored on the magnetic stripe. The thief later retrieves the skimmer and downloads the stolen data.
- Shimming: Similar to skimming, shimming involves inserting a thin device into the card reader’s chip slot. This device intercepts the data transmitted from the chip to the terminal, allowing thieves to steal your information even from chip-enabled cards.
- Data Breaches: Hackers can target businesses’ computer systems to steal customer data, including credit card numbers, expiration dates, and card verification values (CVV).
- Phishing and Social Engineering: Β may use deceptive emails, text messages, or phone calls to trick you into revealing your credit card information.
- Dumpster Diving: Believe it or not, some criminals still rummage through trash looking for discarded credit card statements or receipts that may contain valuable information.
- Online Scams: Unsecured websites and fraudulent online stores can collect your credit card information during transactions, which they then sell or use themselves.
The Cloning Process:
Once a thief obtains your credit card information, they can create a clone card using a card encoder. This device allows them to write the stolen data onto the magnetic stripe or chip of a blank card, often a prepaid gift card or a stolen loyalty card. The cloned card then functions as a duplicate of your legitimate card.
How Credit Clone Cards are Used:
Criminals typically use clone cards for in-person purchases, especially at retailers with lax security measures or those who aren’t vigilant about checking identification. They might target high-value items or purchase goods that can be easily resold.