With identity theft being the number one consumer complaint for several years running, it begs the question of whether anyone is safe regardless if we give out our credit card’s security code.
started issuing in 1997 and Visa in the United States issued them by
2001. American Express started to use the CSC in 1999 in response to
growing internet transactions.”
credit card’s security code can go by one of several names, the most
popular of which are card security code (CSC), card verification value
(CVV), card verification value code (CVVC), and verification code
(V-Code). Regardless of what we call it, should we give it out?
claim that if we only call reputable companies and pay over the phone
and only shop on websites with secure, encrypted payment options, we are
already doing the majority of what we can to ensure the security of our
Although identity theft and credit card
theft do happen, phishing scams, hackers, and major information breaches
like the ones at Anthem, Target and Michael’s stores account for the
majority of these cases.
“Take solace that consumer
protection laws limit your liability in the case of credit card fraud to
$50. In most cases, if you promptly report the incident, you will owe
According to “Dr. Jerald Dawkins of True
Digital Security, Inc., be wary of who you trust. The use of CVC over
the web or phone is really at your discretion and the trust you have in
the organization that they will protect the data correctly.”
watch credit card statements, bank statements, and credit scores to
ensure your own safety and security and catch it as quickly as you can.