The CVV number or, to be more precise, CVV2 is a three-digit or rarely a four-digit code for verifying the authenticity of the plastic card when paying for the goods and services on the Internet. It is used, for example, for depositing funds from a card into a trading account and other types of operations when the card is not present. This code is considered an ultimate confirmation data when one pays by the card via the Internet in any payment systems.
Some Characteristics of CVV Number
The CVV2 code can be found on the back of the plastic card. These are the last 3 digits of the seven-digit number next to the cardholder’s signature. As a rule, these figures are visually separated from the whole number. CVV is an abbreviation for the Card Verification Value. The MasterCard payment system has a similar authentication code – CVC2 (Card Validation Code).
CVV2 or CVC2 code should not be confused with the PIN code, which is not present on the card but is provided by the bank separately and secretly. At the same time, in some cases, CVV2 or CVC2 codes also may not be marked on the card and for its clarification, it is necessary to contact the servicing bank.
How Can CVV2 Be Used For Fraudulent Purposes?
In order to protect the funds on the plastic card, it is necessary not only to know what the CVV number and its analog CVC are but also to know about the situations in which the cardholder can communicate the number and in which it should be kept in secret. There are several tricks that could be used by the scammers to steal the funds.
One of such tricks is phishing when the scammers create an exact copy of the website of the bank or any other organization, which the person trusts. Often the cardholder receives a message in which he or she is asked to communicate the number and the other card data. As a result, the person provides the scammers with the secret data on their own will and without knowing they do.
Another trick is a request for identification. In this case, the cardholder receives a message that he or she needs to confirm that the card actually belongs to this person or otherwise it would be blocked. A confused client often reports the necessary data. Some scammers can ask to tell the CVV with the number of the card as if they intend to send the payment for work or for purchase there.
Finally, the popular type of fraud s the simple observation.The scammers follow the possible victim and try to oversee the number when the card is unattended. The same situation often happens near the ATMs where people often do not expect any fraud. In that way, it is necessary to remember that the CVV number should never be conveyed to anyone. It should be entered only on the trusted and reliable websites and only in the case where no other payment option is available, since this data is really sensitive and should be protected.