Whenever you try to make a payment with your MasterCard, you will notice that your MasterCard number and the expiration date are not the only information you need. There is a space mapped out for your MasterCard security code or CVV.
What is MasterCard security code or CVV?
MasterCard security code or CVV which stands for Card Verification Value is a set of three security digits found at the back of your MasterCardshich adds more form of security to your MasterCard against criminal acts.
In recent times, card criminals have set their focus on stealing and using people’s MasterCard details, but the CVV is used by Banks and issuers or MasterCard to curb fraudulent card incidents.
Where do I find my CVV?
Finding your MasterCard CVV is relatively very easy. Whenever you need to use your card to pay for anything online, you will need to input your card information including the CVV. You can find the CVV at the back of your MasterCard, which can be in the signature strip. Very easy?
Can two MasterCards have the same CVV?
The answer is no, MasterCard CVVs are generated automatically by the MasterCard issuer and engraved on the card and when the three-digit security code is generated it can not be altered. So, it means that one CVV is allocated to one card.
How are CVVs generated by the MasterCard issuer?
I know you will be wondering how the CVV is generated but the algorithm for generating CVVs by MasterCard issuer is unknown.
Can I give out my CVV?
If you are doing online shopping, the answer is yes. It helps the merchant verify you are the owner or in possession of the card because the code is meant to be known only by you.
If you are worried that some online store will suffer a cyber-attack and your MasterCard details will be stolen do not be worried, because according to P.C.I standards, merchants can store your card details but not your CVV because you must have noticed that on each of your online transactions you need to input your security code or CVV and having to do that is where that provides more security to your MasterCard.
What do I do if my MasterCard security code is not available?
If your MasterCard security code is not accessible because you cannot read the security code on the back of your card, request a new one from your bank.
How can my master card security code be stolen?
There are many ways by which your MasterCard security code can be stolen which include;
- Phishing
- Through phone calls claiming to be from your bank
- Using system malware like info stealers, keyloggers and browser I insertion malware
Through phishing
Some online criminals can get your security code through a disguised link sent to your email. It can look like a genuine link but it is not. They can send a malicious link to a site, you will be coaxed to use your card details on the site assuring you something too good to be true. When you open the site and finally input your MasterCard details which includes your security code your card details will be captured and sent to the criminals.
Through phone calls claiming to be from your bank
You can receive a phone call from a mysterious individual claiming to be from your MasterCard issuer or your bank asking for your banking details ranging from your MasterCard number to your MasterCard security code. They will go forward to tell you they need all the details for an account upgrade.
When you finally give out your information to the criminal, they can have access to your MasterCard security code which they can use anytime until you change your card. There have been cases where this kind of thing happened and the victim’s account got emptied in a matter of minutes.
Note that MasterCard nor your bank will ever call you asking for your card details.
Using system malware like info stealers, keyloggers, and browser insertion malware
Malware can be used to attack your device to steal your MasterCard details.
For example, when an info stealer infects your system, it will scan your device and steal all your confidential data which includes; all your payment details available. Info stealers will most times drop a keylogger that captures all the keys you typed on your keyboard and it will recognize and send your card details to the criminal. Whereas browser insertion malware attacks your browser and detects when you visit any payment site and it will go ahead and pops its copy of the payment form which you will fill giving the criminal all your MasterCard details including the security code.
How do I protect my MasterCard security code?
Protecting your MasterCard security code is an easy thing to do as long as you follow these steps below;
Never give out your MasterCard details to people who ask through email proposing things too good to be valid expecting you will be tempted.
Never fall for calls from individuals claiming to be from your bank, if it gets too severe communicate with your card issuer or bank.
Make sure to have good and updated anti-virus products on your device which can detect and block malicious malware.
Always check your accounts activities by reviewing your transaction online and when you receive a statement in your mail ensure that you approve each one.
Do not for any reason share the image of your MasterCard with anybody.
Before you input your MasterCard details on any website, check for the HTTPS address and the SSL padlock on your browser to confirm how safe and trusted the website is.
Note: each time you notice a debit transaction on your account that wasn’t carried out by you. I assure you that you need a new MasterCard.
