Fintech & Ecommerce

How to avoid card fraud: 3 tips from an anti-fraud specialist

Anti-fraud specialist gives useful advice on how you can protect yourself from card fraud

How to avoid card fraud: 3 tips from an anti-fraud specialist. Source:

PaySpace Magazine learned from ECOMMPAY’s leader of the anti-fraud team, Daniel Sevskis, how users can protect themselves from internet fraud.

1. Be vigilant and never panic

According to Sevskis, scammers use social engineering methods, trying to convince the user to always respond quickly to phishing messages.

"If you do not reply to this letter within 5 minutes, your account will be deleted!" or "Reply with the code that will now be sent to your phone", you respond and thus accept the rules of the game, that this person can give you orders, and is in control. Answering to such messages, it’s possible not to notice that the message may include information about money transfer from your bank account, in that moment the focus is on replying to that code before the time limit expires. Therefore, don’t panic
Daniel Sevskis

2. Use virtual prepaid cards

The expert advises using a virtual card and blocking it every time until the next transaction. You can freeze and unlock the card in the application.

My Revolut card is blocked for 99% of the time, except when I pay with it. I delete the virtual card every time after paying online and then I create a new one when I need it again - this is not some kind of high technology, it all can be done within one application. Any user can do so if desired. If there are unsuccessful attempts to debit funds from my blocked card, I will see them and find out that scammers somehow got my card data, but no such situation has happened before; it’s just a precaution because I don’t want to become 'the shoemaker who always wears the worst shoes'
Daniel Sevskis

Learn more about prepaid cards here.

3. Do not forget about your rights

If you encounter a case of fraud, contact the bank that issued the card to you. If the card was used without the 3D Secure (a messaging protocol to enable consumers to authenticate themselves with their card issuer when making card-not-present transactions), then you are entitled to compensation.

If the scammers somehow found out your phone number, you can ask the bank where they got the data from your client agreement with the bank, if there were any info leaks. Do not rush to just give away this money and consider yourself guilty - if you were scammed, it doesn’t mean you are obligated to pay for it!
Daniel Sevskis

Note. Representatives of the bank never call customers, asking them to provide personal information and data on payment cards and accounts. Therefore, never give third parties payment card details (its expiration date, CVC2/CVV2 code, PIN code, etc.) and personal data, as well as login/password for entering online banking, one-time passwords for additional authentication, etc.


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