Credit Card Forgery Prevention

Jul 6, 2021

Effective Credit Card Forgery Prevention Using Multilevel Authentication

Credit card forgery has become one of the most common types of fraud for many years. With new technological evolutions, it has become easier for hackers and scammers to trick users and misuse their personal information. According to a survey, 45% of adult Indian internet users faced identity threats in 2020. The solution to prevent the losses incurred by consumers and businesses is multi-level authentication that verifies the user details, prompts the consumer, and regularly monitors the transactions.

What are the three ways to verify a user?

A secure authentication and verification system would require at least three types of factors to put a stop to ID forgery. The commonly used determinants are:

  • Password: Any combination of numbers, words, code words that are easy to remember and difficult to predict.
  • Physical objects: Objects like smartphones, smart cards, keypads where one could type and compute the responses.
  • Scanned verification: It includes human body parts that could uniquely identify the user, such as fingerprints, palm scanning, face recognition, or retina scanning.

Multi-level authentication to prevent credit card forgery

Multiple steps are required to make sure the credit card user is authentic and not a fraudster. Safe and reliable forgery detection services would help businesses to only focus on genuine customers.

  • User registration

Secure registration for users to log in with their personal information helps to recognize authentic customers. Credit card users can store their name, account details, credit card number, and other details for verification when they use it the next time. The stored information is also helpful to monitor the transactions and movements through the server.

  • OTP verification

One-time password verification checks and confirms if the user is the authorized person or at least aware of the credit card usage at the moment. Unique code is generated on the verified contact number or e-mail id to prevent false transactions.

  • Location and POS

When customers use their credit cards to pay for the services, they punch in the PIN in the keypad. The server verifies the keypad id with the PIN and sends an OTP to the user’s registered number. The OTP also verifies the location of the credit card and the user at the POS (Point of Sale). This process makes it easy to catch any discrepancy and report the forgery.

  • Fingerprint verification

When the user and credit card locations get matched, the next and final step remains fingerprint verification. It makes the credit card forgery prevention program a fool-proof system. Fingerprint scanning helps keep a check if the fake user gets hold of the registered contact number and other confidential details. Only when all the levels of authentication are cleared and matched, the transaction gets successful.

The credit card users should keep themselves updated on the transactions and not give away their confidential details to anyone. The increasing cases of online hacking and scam calls pose a threat to transactions all around the world. ID forgery provides a secure ID and document forgery detection program, which helps to prevent malpractices. Our efficient services work towards reducing the losses and promoting ethical progress. We are happy to connect for more details.