Credit card scams continue to plague a lot of countries around the world today. With the increasing adoption and popularity of online payment platforms, e commerce portals and Web shopping networks across relevant global markets, card not present scams and cases of identity theft are also rapidly growing at an alarming pace worldwide. Fraud websites are used by many scammers and criminal syndicates to improve their chances of tricking users to unknowingly give away their account credentials, personal details and private information.
In the USA, many cybersecurity experts, ecommerce payment processing providers and financial institutions predict a whopping 125% growth in credit card fraud and identity theft by the end of 2018. In 2014, more than $8 billion of losses were reported across the USA due to card not present scams and identity fraud. An astounding 125% growth means US-based organizations and American credit card holders would most likely be looking at over $19 billion of losses in the next couple of years. With more intricate systems being integrated by criminal syndicates and solo scammers into their fraud websites, there’s a good chance that this prediction could be realized soon enough.
How Are Fraud Websites Used for Credit Card Scams?
In simple terms, fraud websites are mainly used to fool users into unknowingly entering their account credentials, financial information and personal details. These sites are designed by scammers and criminal groups as exact clones of the online banking portals, Webmail platforms, online shopping networks and ecommerce sites that are frequently used by their target victims.
They then place links that point to their fraud websites in the phishing messages that they send out to their target user groups. To compel users to click these links and enter their private information and financial account credentials in the rogue sites, fake urgency claims and scare rhetoric are integrated into these phishing messages.
In many instances, users are told that they need to log into their accounts and update their security settings and profiles because of possible security breaches and privacy risks as reported by other users. Since the fraud websites are exact clones of their official online banking portals, favorite ecommerce sites and online shopping networks – Many users are tricked into doing this.
Once their credentials are logged and transmitted to the scammers and criminal groups that operate the fraud websites, the stolen credit card information and personal details are then bundled as fake financial identity packages. These are then sold in the Deep Web to other criminals and fraudsters for their illegal online and offline activities.
In some instances, scammers and criminal syndicates end up with account credentials without any credit card information or any other personal data. What they do is hack into the online banking portals, e commerce sites and shopping networks of their victims to steal any money or private information that they can find there. This is why you should make it a point to always verify if you’re on any of these fraud websites before doing anything.
You can steer clear from the many fraud websites out there today by signing up at BigScammers.Com. You’ll be able to receive instant alerts and real time notifications via email each time a user anonymously posts a scam complaint or files a Web crime report in this online community. Most of the time, a lot of users share in BigScammers.Com the exact domains of fake websites that they encounter during their day-to-day activities on the Web.