Criminals use credit card slips to steal your money: security expert

Professor Basie Von Solms, Director of the Centre for Cyber Security at the University of Johannesburg, has warned that printed slips from credit card transactions pose a serious risk to consumers.

Speaking on RSG, Von Solms said that when you pay for goods with your credit card, you get a printed slip and the retailer also receives a slip of the transaction.

“Research has shown that if the point-of-sales equipment is not correctly set up, it prints your credit card number, your expiry date, and your name on the slip,” said Von Solms.

This sensitive information may not be on the slip which you get, but it is visible on the version which the retailer gets.

Because all the information needed to buy goods is displayed on the slip in possession of the retailer, it can be used by criminals to purchase good illegally.

“When you purchase goods using a credit card over the phone, all you need is the name, credit card number, and expiry date,” said Von Solms.

How to avoid falling victim to this crime

Von Solms advised consumers to ask retailers to see the credit card payment slip which the shop keeps, to see if sensitive information is displayed on the slip.

“If your name, credit card number, and the card’s expiry date is displayed on this slip, you should immediately approach the bank responsible for the shop and say it may not happen.”

He said a credit card number may never appear in full on a printed receipt and definitely not with the name and expiry date.

Von Solms further advised that in the case of failed transactions, consumers must always ask for the slip which was printed.

He said these slips can contain sensitive information. Criminals can force a failed transaction and then keep the slip with the information for use later on.

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Criminals use credit card slips to steal your money: security expert