A credit card spill could happen in many different ways. Skimming is a typical technique where a fraudulent card reader steals data from a credit card by placing it inside a legitimate automated teller machine (ATM) or petrol station pump. In other instances, fraudsters can steal a huge number of card numbers all at once by hacking into the computer systems of businesses that handle credit card data for customers. For instance, by infecting the point-of-sale (POS) equipment of a sizable retail chain, thieves may gain access to the credit cards of thousands of retail customers.

Hackers continue to develop new strategies to take advantage of flaws in the electronic payments system in order to steal important credit card information, despite safeguards like personal identification numbers (PINs) and security chips helping to make this theft more challenging. Cybercriminals resell the credit card data on the black market to make money off of this theft. According to reports, this kind of stolen data may be sold in the US for anywhere from $20 to $80 per card. Alternately, hackers might use the data to make unlawful internet purchases with credit cards that were stolen.

In the end, consumers have few options for defending themselves from the risk of cybercrime. After all, if hackers are successful in breaching the networks of the businesses where people shop, even the most vigilant people could become the victims of credit card fraud. However, there are actions people can take to lessen some of their risks. They should avoid giving out their credit card numbers to others, keep their cards close at hand when in public, look for any odd items near POS terminals, gas pumps, and ATMs, and routinely check their credit card accounts for any unusual charges.