By Cyber criminals are increasingly changing their methods of accessing payment system solution such as Automated Tell Machine cards according to security reports released by the CERRT.NG Advisory, an arm of the National Information Technology Development Agency (NITDA).
According the report, while the payment card fraud remains a significant and evolving threat in the digital age, the cyber criminals now use sophisticated techniques including malware and automated bots to steal card information online.
The report revealed that attackers increasingly target e-commerce payment pages and financial accounts to harvest card details and launch fraudulent transactions.
The report also warned that fraudulent use of payment card information can lead to unauthorized purchases charged to victim’s account, financial loss and stress from resolving disputes, potential identity theft if personal details are Compromised.
Giving more insight on how they operate, the NITDA’s report said disclosed that Online shopping and checkout pages where hidden malware or skimming code can steal card data adding that public Wi-Fi and shared networks are unsecured network that increase’s risk of interception.
Also phishing emails and fake websites are used by fraudsters to mimic bank or payment service portals just to trick users.
NITDA urged users to “verify all websites before entering card details; ensure the URL starts with https:/l and that it is the correct bank or merchant site. Never share OTPs, PINs or CVW codes in response to unsolicited calls, messages or emails.”
NITDA further stated that there are other preventive measures such:
Enable transaction alerts via SMS/app to detect unauthorized use quickly.
Use secure networks only avoid public Wi-Fi when
entering sensitive payment information.
Enable multi-factor authentication (MFA) on banking/payment accounts for extra protection.
Regularly check your statements and report suspicious transactions to to your bank immediately.
