A credit card dump is a phrase that refers to credit card data that has been illegally stolen from an offline location such as a Point-of-Sale (POS) machine. Thieves commonly obtain credit card dumps from malware-infected POS machines at retail locations when users swipe their credit cards through such devices. Another common method of obtaining dumps is for a credit card hacker to create a user database and use it to trigger a dump on a POS machine. Retailers are advised to closely monitor any ATM transactions, particularly when the machines are unattended.
In many cases, dumpsters can be used to conceal illegal drugs or money in amounts higher than the $100 maximum. Another potential criminal use for the dumpster is to haul away personal items which are not saleable, such as gold teeth, sports memorabilia, and pricey jewelry. The criminals can even haul away these items before the police can recover them. Credit card dumps from Carders Forum are becoming more widespread because criminals are being encouraged by authorities to steal more information from innocent victims.
To reduce the number of credit card dumps, retailers have been urged to implement stronger security measures at point-of-sale. These include using smart-card technology at point-of-sale terminals and installing fraud alarms for sensitive credit card details. In some cases, merchants may be able to reduce the risk of credit card fraud through the use of a merchant account and PIN pads. In most cases, though, merchants must still come up with ways to encourage customers to pay with plastic rather than cash. A plastic slip may be presented as payment for products bought at a Point-of-Sale terminal. However, a fraudulent customer can easily produce a fake credit card to use at another merchant or to withdraw money from ATMs.
The black market is also starting to take advantage of this problem. Since dumpster divers almost every day come across legitimate business dumpsters, there is no shortage of black market items to sell. Drugs, stolen card data, and counterfeit goods are easy to sell. Nearly every type of fraud is done on the black market. Shops that accept credit cards for payment may be at high risk. Dumpster divers also come up with creative ways to disguise the identity of the company they’re dumping the stolen card data and money from.
There is also the internet, which is becoming a haven for cyber-criminals. The dumpster divers that come online to find business are not limited to local commercial areas. Almost every major city in the United States has a cyber-crime group that specializes in credit card data and other types of fraud.
While there are a lot of different methods to take advantage of this particular type of theft, the most effective way is to prevent it altogether. Be careful when giving out your credit card number online or in any other situation where you may be asked for it over the phone. This is also true for situations where you make payments through credit card sites. If it sounds too good to be true, then it probably is.