Carding is a form of credit card fraud where individuals, known as carders or carders, use stolen credit card information to make unauthorized purchases or fraudulent transactions. Here's how carding typically works: 1. **Acquiring Card Information:** Carders obtain credit card details, including the card number, expiration date, CVV (Card Verification Value), and cardholder name. This information can be obtained through various illegal means, such as data breaches, phishing, skimming devices, or buying card data from the dark web.
2. **Verification:** Before making any fraudulent transactions, carders often perform a test or verification of the card information to confirm that it's valid. They might do this by making small purchases or verifying the card's balance.
3. **Making Unauthorized Transactions:** Once they have verified the card's validity, carders use the stolen card information to make unauthorized purchases online or in physical stores. They may buy high-value items, gift cards, or other easily resellable goods. 4. **Money Laundering:** Carders may attempt to launder the proceeds from these fraudulent transactions by converting the goods or gift cards into cash or cryptocurrency, making it harder to trace the illicit gains.
Carding is illegal and unethical, as it involves stealing someone's financial information and using it for personal gain. It is considered a serious cybercrime and is subject to legal penalties. Law enforcement agencies and financial institutions work to combat carding activities, and there are strict security measures in place to protect credit card information. It's essential for individuals to safeguard their personal financial information, regularly monitor their credit card statements, and report any suspicious or unauthorized transactions to their credit card issuer or bank to help prevent carding and financial fraud.