3D Secure scam: beware of this fraud that can empty your bank account

Scams of all kinds are unfortunately more and more numerous each year. Indeed, the criminals redouble their ingenuity to pierce the security systems. Thus, a new scam has emerged in recent weeks: bypassing the 3D Secure scam. This double authentication has been put in place by banks to protect customers who make payments online.

Even through secure means of payment such as 3D Secure, online credit card fraud is not uncommon. Hackers are never short of ways to recover and use your bank details. Paying online therefore means exposing yourself to data hacking, and therefore to fraudulent direct debits which can sometimes reach thousands of euros!

What is that?

3D Secure is a secure Internet payment protocol. Deployed under the trade names “Verified By Visa” and “MasterCard SecureCode”, 3-D Secure was developed by Visa and MasterCard to limit the risk of Internet fraud, linked to the fraudulent use of payment card numbers. Its purpose is to ensure, during each online payment, that the card is used by its real holder.

In the event that both the merchant and the cardholder’s bank are equipped, an additional step takes place at the time of payment. In addition to the bank card number, the expiry date of the card and the three-digit security code (printed on the back of the card), the Internet user may have to enter a password, his date of birth or a single-use dynamic code.

Another tactic involves social engineering (a tactic used by cybercriminals to manipulate individuals into divulging confidential information), where scammers impersonate customer service representatives and call unsuspecting victims, claiming to be from their bank’s fraud department. They may provide false information about unauthorized transactions on the victim’s account and convince them to disclose their 3D Secure authentication details to resolve the issue.

Image Diagram illustrating 3-D Secure. GPayments, CC BY-SA 4.0, via Wikimedia Commons

3D Secure phishing: how to react?

If you have noticed fraud following a payment by 3D Secure, you must react immediately.

A tip to be able to react quickly in the event of credit card fraud: regularly look at your account statements, and carefully (some frauds are not obvious, both in the amount withdrawn and in the title entered on the statement, to avoid attracting attention).

Once the fraud has been detected, you must immediately oppose your bank card, even if you are still in possession of the card. Indeed, if you do not block it, not only do you risk being subjected to other fraudulent debits, but in addition, the bank will not be able to reimburse you for the sums debited.

The second step, after making an opposition on your credit card, is to file a complaint. If it is not mandatory in all banks, it is strongly recommended and it will allow you to find out where the fraud is coming from to avoid being caught again in the future.

Reminder of safety rules:

1. Never give anything, never over the phone to strangers calling.
2. Never validate anything from transactions that you did not initiate yourself.
3. Hang up and call your bank.

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Sources: Fraud.net, ASEE

Photo credit: arc-fotos via Pixabay