Credit Card Security Research Paper Example | Topics and Well Written Essays - 500 words

Credit Card Security - Research Paper Example is known as the Fraud Protection Guarantee, wherein the card holder is free from any fraudulent charges whether the credit card is used on the internet or not. It promotes maximum security because of its secure encryption technology that keeps the cardholders information strictly confidential (americanexpress.com, n. p.). For secure and safe online shopping, MasterCard has its MasterCard Secure Code; it works as having a personal code only known to the cardholder. Visa on the other hand, is also cooking up its own scheme of credit card security measure. counterfeit credit card, which makes up 37 percent of credit card frauds. Criminals who make fake credit cards employ the latest technology to "skim information" that are embedded on the magnetic stripes of the credit card and pass security measures, like holograms ("Credit Card Fraud Statistics and Facts," n. p.). In other words, using credit card online makes you susceptible to all kinds of credit card fraud. One interesting question is how criminals get a hold of your information. Although the most common perception is that credit card info is intercepted once the card is used online. That is an interesting theory, but experts explain that e-commerce has created an environment where anonymity is practiced; meaning cards are being used even without identifiers (Faughnan, n. p.). This could be the one problem that big credit card companies try to address with the code systems of their new security measure program. Another way of stealing a cardholders information is using a particular online business as a front to get credit card info. One common and enticing site is pornography site. Such is designed as a legitimate business, thus can easily asked for a persons credit card information once that person is interested in one of the sites services. This is what is identified as selling information because these are vendors and purchasers that only deal with information and need no physical a ddress for